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

Genie Energy Ltd. (NYSE:GNE - Get Free Report) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Tuesday, November 12th will be given a dividend of 0.075 per share by the oil and gas producer on Wednesday, November 20th. This represents a $0.30 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, November 12th.

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

Genie Energy Price Performance

Shares of NYSE GNE traded up $0.13 during midday trading on Thursday, reaching $16.96. 69,445 shares of the company traded hands, compared to its average volume of 117,870. The company has a market cap of $456.05 million, a price-to-earnings ratio of 58.03 and a beta of 0.09. The stock has a 50-day moving average price of $16.43 and a 200 day moving average price of $15.88. Genie Energy has a 52 week low of $14.00 and a 52 week high of $30.90.

Genie Energy (NYSE:GNE - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.37 EPS for the quarter. The company had revenue of $90.70 million for the quarter. Genie Energy had a net margin of 1.75% and a return on equity of 23.30%.

Insider Activity at Genie Energy

In other Genie Energy news, Director James A. Courter sold 3,675 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.19, for a total value of $63,173.25. Following the sale, the director now directly owns 304,411 shares in the company, valued at approximately $5,232,825.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Genie Energy news, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.19, for a total value of $63,173.25. Following the transaction, the director now owns 304,411 shares in the company, valued at approximately $5,232,825.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Avi Goldin sold 2,300 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the transaction, the chief financial officer now directly owns 134,999 shares in the company, valued at $2,320,632.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.50% of the company's stock.

Analyst Ratings Changes

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.