Genie Energy (NYSE:GNE) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Genie Energy shares crossed above their 200-day moving average, reaching $16.02 before last trading at $15.83, compared with the $14.38 average.
• Analysts remain cautious, with Freedom Capital downgrading the stock to “Hold” and two analysts collectively assigning Genie Energy an average “Hold” rating.
• Genie Energy reported quarterly EPS of $0.43, beating estimates by $0.18, and maintains a quarterly dividend of $0.075, equivalent to a 1.9% annual yield.

Shares of Genie Energy Ltd. (NYSE:GNE - Get Free Report) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $14.38 and traded as high as $16.02. Genie Energy shares last traded at $15.83, with a volume of 78,426 shares traded.

Analyst Ratings Changes

GNE has been the topic of a number of research analyst reports. Freedom Capital cut shares of Genie Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings restated a "hold (c)" rating on shares of Genie Energy in a research note on Monday, September 14th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Genie Energy presently has an average rating of "Hold".

Genie Energy Trading Down 0.1%

The firm has a fifty day moving average of $14.98 and a two-hundred day moving average of $14.38. The company has a market cap of $416.65 million, a PE ratio of 19.54 and a beta of 0.19. The company has a current ratio of 2.89, a quick ratio of 2.75 and a debt-to-equity ratio of 0.03.

Genie Energy (NYSE:GNE - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 EPS for the quarter, beating the consensus estimate of $0.25 by $0.18. The business had revenue of $100.40 million for the quarter, compared to the consensus estimate of $104.57 million. Genie Energy had a net margin of 5.05% and a return on equity of 12.80%.

Genie Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Friday, August 14th were issued a $0.0750 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.30 annualized dividend and a yield of 1.9%. Genie Energy's dividend payout ratio (DPR) is 37.04%.

Institutional Investors Weigh In On Genie Energy

Several institutional investors have recently made changes to their positions in GNE. Quantinno Capital Management LP raised its stake in shares of Genie Energy by 92.9% during the 1st quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer's stock valued at $2,174,000 after purchasing an additional 74,046 shares during the period. Kahn Brothers Group Inc. bought a new position in Genie Energy in the 2nd quarter worth about $2,474,655. Public Employees Retirement System of Ohio bought a new position in Genie Energy in the 2nd quarter worth about $175,000. Empowered Funds LLC purchased a new position in Genie Energy during the 1st quarter valued at about $204,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Genie Energy by 5.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer's stock valued at $3,001,000 after buying an additional 10,044 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company's stock.

About Genie Energy

Genie Energy Ltd. is an energy services company that provides electricity and natural gas to residential and small-business customers. Through its retail energy operations, the company offers customers energy supply plans and related services in deregulated markets, where consumers can choose an independent supplier rather than purchasing directly from a regulated utility.

The company also operates businesses focused on renewable energy and other energy-related solutions. Its offerings have included residential and commercial solar products, solar project development and installation services, and energy management or advisory services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.