Genie Energy (NYSE:GNE) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Genie Energy (NYSE:GNE) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.

Genie Energy Price Performance

GNE opened at $16.55 on Wednesday. The stock’s 50-day moving average price is $14.98 and its 200 day moving average price is $15.03. Genie Energy has a 12-month low of $13.05 and a 12-month high of $17.93. The firm has a market cap of $447.02 million, a price-to-earnings ratio of 118.22 and a beta of -0.02. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. The business had revenue of $136.81 million for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%.

Genie Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, May 19th. Genie Energy’s payout ratio is currently 214.29%.

Institutional Investors Weigh In On Genie Energy

Several large investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new position in shares of Genie Energy in the 4th quarter valued at about $37,000. SG Americas Securities LLC acquired a new stake in Genie Energy in the fourth quarter valued at approximately $107,000. Wells Fargo & Company MN lifted its stake in Genie Energy by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock worth $120,000 after acquiring an additional 1,699 shares during the last quarter. PDT Partners LLC acquired a new position in Genie Energy during the 4th quarter worth approximately $174,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Genie Energy in the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.

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.