Genie Energy Ltd. (NYSE:GNE) Announces Quarterly Dividend of $0.07

Genie Energy Ltd. (NYSE:GNE) declared a quarterly dividend on Thursday, November 5th. Investors of record on Friday, November 13th will be given a dividend of $0.0750 per share by the oil and gas producer on Monday, November 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, November 13th.

Genie Energy Stock Down 2.2%

GNE stock opened at $16.72 on Friday. The stock’s 50 day simple moving average is $16.20 and its 200 day simple moving average is $14.68. The company has a market cap of $440.12 million, a P/E ratio of 20.64 and a beta of 0.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.75 and a current ratio of 2.89. Genie Energy has a fifty-two week low of $12.69 and a fifty-two week high of $17.50.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $100.40 million during the quarter, compared to analysts’ expectations of $104.57 million. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Freedom Capital cut Genie Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Genie Energy from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Genie Energy in a report on Monday, September 14th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has an average rating of “Hold”.

About Genie Energy

Genie Energy Ltd. is an energy services company that provides electricity and natural gas to residential and small-business customers through retail energy businesses. Its offerings may include energy supply plans, renewable energy options and related services, with operations conducted through a portfolio of brands and subsidiaries.

The company’s retail energy activities have historically included serving customers in U.S. deregulated energy markets, where consumers can select an independent supplier rather than purchasing supply directly from a regulated utility.