Genie Energy (NYSE:GNE) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Genie Energy (NYSE:GNE) from a strong-buy rating to a buy rating in a research report report published on Thursday morning.

Genie Energy Trading Up 0.4 %

NYSE:GNE opened at $14.85 on Thursday. The firm has a market cap of $403.97 million, a P/E ratio of 106.09 and a beta of 0.02. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $14.47 and its 200-day simple moving average is $15.38. Genie Energy has a 12-month low of $13.05 and a 12-month high of $17.93.

Genie Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Tuesday, February 18th. Genie Energy’s dividend payout ratio is presently 214.29%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Genie Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer’s stock worth $19,804,000 after acquiring an additional 39,749 shares during the period. J. Goldman & Co LP grew its holdings in Genie Energy by 14.8% during the fourth quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer’s stock worth $10,543,000 after acquiring an additional 87,206 shares during the period. State Street Corp grew its holdings in Genie Energy by 2.4% during the third quarter. State Street Corp now owns 520,358 shares of the oil and gas producer’s stock worth $8,456,000 after acquiring an additional 11,981 shares during the period. Geode Capital Management LLC grew its holdings in Genie Energy by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 430,370 shares of the oil and gas producer’s stock worth $6,712,000 after acquiring an additional 9,283 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Genie Energy by 24.3% during the fourth quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer’s stock worth $2,599,000 after acquiring an additional 32,630 shares during the period. Institutional investors and hedge funds 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.