Genie Energy Ltd. (NYSE:GNE - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.83 and traded as high as $16.31. Genie Energy shares last traded at $16.15, with a volume of 44,330 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Genie Energy from a "hold" rating to a "buy" rating in a report on Thursday, August 1st.
Check Out Our Latest Report on Genie Energy
Genie Energy Price Performance
The stock has a 50 day simple moving average of $16.51 and a two-hundred day simple moving average of $15.84. The company has a market cap of $444.41 million, a price-to-earnings ratio of 32.76 and a beta of 0.08.
Genie Energy (NYSE:GNE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.37 earnings per share for the quarter. Genie Energy had a return on equity of 23.30% and a net margin of 1.75%. The company had revenue of $90.70 million for the quarter.
Genie Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Wednesday, August 14th. Genie Energy's dividend payout ratio (DPR) is 60.00%.
Insider Activity at Genie Energy
In related news, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction on Thursday, September 12th. The stock was 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. This trade represents 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 the SEC website. In other Genie Energy news, CFO Avi Goldin sold 2,300 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James A. Courter sold 3,675 shares of the company's stock in a transaction 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 completion of the transaction, the director now directly owns 304,411 shares in the company, valued at $5,232,825.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Genie Energy
Hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Genie Energy by 8.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer's stock valued at $202,000 after acquiring an additional 1,002 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Genie Energy by 1.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 80,676 shares of the oil and gas producer's stock valued at $1,311,000 after acquiring an additional 1,046 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Genie Energy by 5.8% in the first quarter. BNP Paribas Financial Markets now owns 23,114 shares of the oil and gas producer's stock valued at $349,000 after acquiring an additional 1,267 shares during the last quarter. Point72 DIFC Ltd boosted its position in shares of Genie Energy by 11,831.6% during the second quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Genie Energy by 10.0% during the second quarter. Principal Financial Group Inc. now owns 32,355 shares of the oil and gas producer's stock worth $473,000 after acquiring an additional 2,941 shares during the period. 49.15% of the stock is owned by institutional investors and hedge funds.
Genie Energy Company Profile
(
Get Free Report)
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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