Genie Energy Ltd. (NYSE:GNE) Declares $0.08 Quarterly Dividend

Genie Energy Ltd. (NYSE:GNE) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Stockholders of record on Wednesday, August 14th will be paid a dividend of 0.075 per share by the oil and gas producer on Thursday, August 22nd. This represents a $0.30 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Wednesday, August 14th.

Genie Energy has decreased its dividend by an average of 3.1% per year over the last three years.

Genie Energy Trading Up 1.5 %

Shares of NYSE GNE traded up $0.22 during midday trading on Wednesday, hitting $15.38. The company’s stock had a trading volume of 1,191 shares, compared to its average volume of 142,882. The business’s 50 day moving average is $15.44 and its two-hundred day moving average is $16.29. Genie Energy has a 12-month low of $14.00 and a 12-month high of $30.90. The firm has a market cap of $417.27 million, a P/E ratio of 30.76 and a beta of 0.15.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Wednesday, May 8th. The oil and gas producer reported $0.33 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 $119.69 million for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Genie Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

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.