Genie Energy Ltd. (NYSE:GNE) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 24.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,695 shares of the oil and gas producer's stock after purchasing an additional 32,630 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of Genie Energy worth $2,599,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Barclays PLC increased its stake in Genie Energy by 234.6% during the 3rd quarter. Barclays PLC now owns 20,617 shares of the oil and gas producer's stock valued at $334,000 after buying an additional 14,455 shares during the period. Cerity Partners LLC boosted its holdings in shares of Genie Energy by 118.5% in the third quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer's stock valued at $1,533,000 after acquiring an additional 51,160 shares in the last quarter. State Street Corp increased its stake in shares of 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 valued at $8,456,000 after acquiring an additional 11,981 shares during the period. SG Americas Securities LLC bought a new stake in Genie Energy during the fourth quarter worth approximately $107,000. Finally, Geode Capital Management LLC lifted its position in Genie Energy by 4.4% in the third quarter. Geode Capital Management LLC now owns 421,087 shares of the oil and gas producer's stock worth $6,844,000 after purchasing an additional 17,613 shares during the period. 49.15% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Separately, StockNews.com cut Genie Energy from a "strong-buy" rating to a "buy" rating in a research report on Thursday.

Genie Energy Price Performance

Genie Energy stock traded up $0.49 during midday trading on Monday, hitting $15.30. The company's stock had a trading volume of 74,757 shares, compared to its average volume of 85,737. Genie Energy Ltd. has a 12 month low of $13.05 and a 12 month high of $17.93. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $416.13 million, a PE ratio of 109.29 and a beta of 0.02. The stock's 50-day moving average price is $14.47 and its 200-day moving average price is $15.37.

Genie Energy Dividend Announcement

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

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.