StockNews.com Upgrades Genie Energy (NYSE:GNE) to Buy

StockNews.com upgraded shares of Genie Energy (NYSE:GNE) from a hold rating to a buy rating in a research report released on Thursday.

Genie Energy Price Performance

GNE stock opened at $16.04 on Thursday. The company has a 50 day moving average price of $15.44 and a 200 day moving average price of $16.35. Genie Energy has a fifty-two week low of $13.32 and a fifty-two week high of $30.90. The stock has a market capitalization of $435.17 million, a PE ratio of 32.08 and a beta of 0.15.

Genie Energy (NYSE:GNE) last issued its earnings results on Wednesday, May 8th. The oil and gas producer reported $0.33 EPS for the quarter. The company had revenue of $119.69 million during the quarter. Genie Energy had a net margin of 2.99% and a return on equity of 24.06%.

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, May 17th. Genie Energy’s payout ratio is 60.00%.

Institutional Trading of Genie Energy

Several institutional investors and hedge funds have recently made changes to their positions in GNE. Tower Research Capital LLC TRC raised its position in shares of Genie Energy by 147.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,717 shares of the oil and gas producer’s stock valued at $76,000 after acquiring an additional 1,620 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Genie Energy by 41.9% in the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after buying an additional 3,144 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Genie Energy in the 4th quarter valued at $164,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Genie Energy in the 2nd quarter valued at $179,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Genie Energy by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 1,002 shares during the period. Institutional investors own 49.15% of the company’s stock.

About Genie Energy

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.