Vanguard Group Inc. Increases Stake in Genie Energy Ltd. (NYSE:GNE)

Vanguard Group Inc. increased its position in shares of Genie Energy Ltd. (NYSE:GNE - Free Report) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,270,284 shares of the oil and gas producer's stock after acquiring an additional 39,749 shares during the quarter. Vanguard Group Inc. owned about 4.67% of Genie Energy worth $19,804,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Genie Energy by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 41,960 shares of the oil and gas producer's stock worth $682,000 after acquiring an additional 1,891 shares during the period. State Street Corp lifted its position in shares of Genie Energy by 2.4% in the third quarter. State Street Corp now owns 520,358 shares of the oil and gas producer's stock worth $8,456,000 after purchasing an additional 11,981 shares in the last quarter. Jane Street Group LLC lifted its position in Genie Energy by 9.4% during the 3rd quarter. Jane Street Group LLC now owns 65,788 shares of the oil and gas producer's stock worth $1,069,000 after buying an additional 5,671 shares in the last quarter. Barclays PLC grew its holdings in shares of Genie Energy by 234.6% in the 3rd quarter. Barclays PLC now owns 20,617 shares of the oil and gas producer's stock valued at $334,000 after acquiring an additional 14,455 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Genie Energy by 4.4% during the third quarter. Geode Capital Management LLC now owns 421,087 shares of the oil and gas producer's stock valued at $6,844,000 after purchasing an additional 17,613 shares during the last quarter. Institutional investors own 49.15% of the company's stock.

Wall Street Analysts Forecast Growth

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

Genie Energy Price Performance

Shares of GNE stock traded up $0.44 on Tuesday, reaching $15.28. The company had a trading volume of 44,192 shares, compared to its average volume of 79,963. The stock has a market capitalization 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 business's 50-day moving average is $14.74 and its 200 day moving average is $15.11. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01.

Genie Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.96%. Genie Energy's dividend payout ratio (DPR) 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.