Genie Energy (NYSE:GNE) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Genie Energy shares crossed above their 200-day moving average, reaching $15.57 and last trading at $15.52, compared with a 200-day average of $14.24.
• The company reported quarterly EPS of $0.43, beating the $0.25 consensus estimate, although revenue of $100.4 million fell short of the $104.57 million forecast.
• Analysts maintain a consensus “Hold” rating, while Genie Energy continues paying a quarterly dividend of $0.075, equivalent to an annualized yield of about 1.9%.

Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.24 and traded as high as $15.57. Genie Energy shares last traded at $15.52, with a volume of 53,467 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Genie Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 18th. Freedom Capital cut Genie Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Genie Energy Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.75 and a current ratio of 2.89. The stock has a fifty day simple moving average of $14.55 and a two-hundred day simple moving average of $14.24. The stock has a market cap of $408.49 million, a PE ratio of 19.16 and a beta of 0.19.

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

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Friday, August 14th were issued a $0.075 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.9%. Genie Energy's payout ratio is currently 37.04%.

Institutional Trading of Genie Energy

Several large investors have recently modified their holdings of the business. Quantinno Capital Management LP lifted its stake in shares of Genie Energy by 92.9% in the first quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer's stock worth $2,174,000 after acquiring an additional 74,046 shares in the last quarter. Kahn Brothers Group Inc. acquired a new stake in Genie Energy during the 2nd quarter valued at approximately $2,474,655. PharVision Advisers LLC purchased a new stake in Genie Energy during the 3rd quarter worth approximately $209,000. New York State Common Retirement Fund increased its holdings in Genie Energy by 98.3% during the 2nd quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer's stock worth $206,000 after purchasing an additional 3,800 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Genie Energy in the 4th quarter valued at approximately $171,000. 49.15% of the stock is currently owned by institutional investors and hedge funds.

About Genie Energy

Genie Energy Ltd. NYSE: GNE is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel's Shefela basin and Jordan's oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.

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