Genie Energy (NYSE:GNE) Shares Up 4.9%

Shares of Genie Energy Ltd (NYSE:GNE) shot up 4.9% on Tuesday . The company traded as high as $7.81 and last traded at $7.56, 448,797 shares changed hands during mid-day trading. An increase of 86% from the average session volume of 241,257 shares. The stock had previously closed at $7.21.

A number of research firms have weighed in on GNE. Zacks Investment Research downgraded Genie Energy from a “hold” rating to a “strong sell” rating in a report on Saturday. Noble Financial restated a “hold” rating on shares of Genie Energy in a research report on Wednesday, August 7th.

The company has a current ratio of 2.02, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $10.33. The company has a market cap of $198.58 million, a price-to-earnings ratio of 8.40 and a beta of 1.37.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.38). The company had revenue of $61.01 million during the quarter, compared to analysts’ expectations of $51.10 million. Genie Energy had a return on equity of 24.42% and a net margin of 6.08%. As a group, analysts predict that Genie Energy Ltd will post 0.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 16th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, August 15th. Genie Energy’s payout ratio is 33.33%.

In related news, Director James A. Courter purchased 56,649 shares of Genie Energy stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $7.01 per share, for a total transaction of $397,109.49. Following the completion of the transaction, the director now directly owns 313,632 shares in the company, valued at approximately $2,198,560.32. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 29.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Willingdon Wealth Management purchased a new stake in shares of Genie Energy during the first quarter worth about $26,000. Acadian Asset Management LLC boosted its stake in Genie Energy by 142.0% during the first quarter. Acadian Asset Management LLC now owns 58,916 shares of the oil and gas producer’s stock valued at $501,000 after buying an additional 34,569 shares during the last quarter. Deutsche Bank AG boosted its stake in Genie Energy by 538.5% during the fourth quarter. Deutsche Bank AG now owns 14,059 shares of the oil and gas producer’s stock valued at $84,000 after buying an additional 11,857 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Genie Energy by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 971,123 shares of the oil and gas producer’s stock valued at $5,856,000 after buying an additional 14,897 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in Genie Energy during the first quarter valued at approximately $465,000. Hedge funds and other institutional investors own 20.16% of the company’s stock.

About Genie Energy (NYSE:GNE)

Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.

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