Genie Energy (NYSE:GNE) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Genie Energy (NYSE:GNE) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

Genie Energy Stock Performance

NYSE GNE opened at $14.85 on Thursday. The business’s 50-day moving average price is $14.47 and its 200 day moving average price is $15.38. Genie Energy has a twelve month low of $13.05 and a twelve month high of $17.93. The company has a market capitalization of $403.97 million, a PE ratio of 106.09 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 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 paid a dividend of $0.075 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.30 annualized dividend and a yield of 2.02%. Genie Energy’s dividend payout ratio is presently 214.29%.

Institutional Investors Weigh In On Genie Energy

A number of large investors have recently modified their holdings of GNE. R Squared Ltd acquired a new stake in shares of Genie Energy in the fourth quarter valued at about $37,000. SG Americas Securities LLC acquired a new stake in shares of Genie Energy in the fourth quarter valued at about $107,000. Wells Fargo & Company MN grew its stake in shares of 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 valued at $120,000 after buying an additional 1,699 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Genie Energy in the fourth quarter valued at about $174,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of Genie Energy in the fourth quarter valued at about $209,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

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.