Alliancebernstein L.P. Lowers Holdings in Genie Energy Ltd. (NYSE:GNE)

Alliancebernstein L.P. cut its holdings in Genie Energy Ltd. (NYSE:GNE - Free Report) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,208 shares of the oil and gas producer's stock after selling 46,570 shares during the period. Alliancebernstein L.P. owned about 0.59% of Genie Energy worth $2,513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GNE. R Squared Ltd bought a new position in shares of Genie Energy during the 4th quarter valued at approximately $37,000. SG Americas Securities LLC purchased a new position in Genie Energy in the fourth quarter valued at approximately $107,000. Pictet Asset Management Holding SA bought a new position in Genie Energy during the fourth quarter valued at $209,000. Arrowstreet Capital Limited Partnership purchased a new stake in Genie Energy in the 4th quarter worth about $256,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Genie Energy during the fourth quarter valued at about $296,000. 49.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Genie Energy from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th.

Genie Energy Stock Performance

Shares of Genie Energy stock traded up $0.44 during trading hours on Tuesday, reaching $15.28. The company had a trading volume of 44,192 shares, compared to its average volume of 79,963. The firm has a market cap of $412.74 million, a PE ratio of 109.16 and a beta of 0.04. Genie Energy Ltd. has a one year low of $13.05 and a one year high of $17.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The business has a fifty day simple moving average of $14.74 and a 200 day simple moving average of $15.11.

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.30 annualized dividend and a yield of 1.96%. Genie Energy's dividend payout ratio is currently 214.29%.

Genie Energy Company Profile

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.