Genie Energy (NYSE:GNE) Releases Earnings Results

Genie Energy (NYSE:GNE) released its quarterly earnings data on Tuesday. The oil and gas producer reported $0.42 earnings per share for the quarter, Zacks reports. Genie Energy had a return on equity of 21.48% and a net margin of 0.80%.

Genie Energy Trading Up 4.8 %

Shares of GNE stock traded up $0.74 during trading hours on Tuesday, hitting $16.02. 22,660 shares of the company were exchanged, compared to its average volume of 77,763. The firm has a market cap of $432.57 million, a P/E ratio of 114.37 and a beta of -0.02. Genie Energy has a fifty-two week low of $13.05 and a fifty-two week high of $17.93. The company has a 50 day simple moving average of $14.85 and a two-hundred day simple moving average of $15.02. 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 Dividend Announcement

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 1.87%. Genie Energy’s dividend payout ratio (DPR) is currently 214.29%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th.

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.