Hillsdale Investment Management Inc. Decreases Position in Genie Energy Ltd. (NYSE:GNE)

Hillsdale Investment Management Inc. cut its stake in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 29.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,941 shares of the oil and gas producer's stock after selling 80,450 shares during the period. Hillsdale Investment Management Inc. owned 0.71% of Genie Energy worth $5,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Genie Energy in the fourth quarter worth approximately $357,000. Janney Montgomery Scott LLC raised its holdings in shares of Genie Energy by 17.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 59,053 shares of the oil and gas producer's stock worth $1,661,000 after buying an additional 8,882 shares during the period. Swiss National Bank purchased a new stake in shares of Genie Energy in the fourth quarter worth approximately $1,077,000. Russell Investments Group Ltd. raised its holdings in shares of Genie Energy by 1,299.0% in the fourth quarter. Russell Investments Group Ltd. now owns 91,872 shares of the oil and gas producer's stock worth $2,584,000 after buying an additional 85,305 shares during the period. Finally, Bailard Inc. raised its holdings in shares of Genie Energy by 6.5% in the fourth quarter. Bailard Inc. now owns 34,400 shares of the oil and gas producer's stock worth $968,000 after buying an additional 2,100 shares during the period. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Genie Energy from a "buy" rating to a "hold" rating in a research note on Tuesday, February 13th.

Genie Energy Stock Down 0.9 %

NYSE:GNE traded down $0.13 during midday trading on Friday, hitting $15.31. The stock had a trading volume of 57,989 shares, compared to its average volume of 105,068. Genie Energy Ltd. has a one year low of $12.95 and a one year high of $30.90. The company has a market capitalization of $418.88 million, a price-to-earnings ratio of 30.62 and a beta of 0.17. The stock has a 50-day moving average of $15.61 and a 200 day moving average of $20.29.

Genie Energy (NYSE:GNE - Get Free Report) last announced its quarterly earnings data on Monday, March 11th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter. Genie Energy had a return on equity of 24.06% and a net margin of 2.99%. The company had revenue of $104.90 million for the quarter.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be paid a $0.075 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.30 annualized dividend and a yield of 1.96%. Genie Energy's dividend payout ratio (DPR) is currently 60.00%.

Genie Energy Profile

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.

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