StockNews.com cut shares of Genie Energy (NYSE:GNE - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.
Genie Energy Stock Up 0.4 %
Shares of Genie Energy stock traded up $0.06 during trading on Thursday, hitting $14.85. The company's stock had a trading volume of 123,139 shares, compared to its average volume of 85,781. Genie Energy has a 52 week low of $13.05 and a 52 week high of $17.93. The company has a market capitalization of $403.97 million, a PE ratio of 106.09 and a beta of 0.02. The company has a fifty day simple moving average of $14.47 and a two-hundred day simple moving average of $15.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56.
Genie Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors 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 dividend yield of 2.02%. Genie Energy's payout ratio is currently 214.29%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in GNE. R Squared Ltd bought a new position in shares of Genie Energy during the fourth quarter valued at $37,000. SG Americas Securities LLC purchased a new stake in Genie Energy during the 4th quarter valued at about $107,000. Wells Fargo & Company MN increased its stake in Genie Energy by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer's stock valued at $120,000 after purchasing an additional 1,699 shares in the last quarter. PDT Partners LLC purchased a new position in Genie Energy in the fourth quarter worth about $174,000. Finally, Pictet Asset Management Holding SA bought a new position in shares of Genie Energy in the fourth quarter worth approximately $209,000. Hedge funds and other institutional investors own 49.15% of the company's stock.
Genie Energy Company Profile
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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.
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