Genie Energy (NYSE:GNE) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Genie Energy (NYSE:GNE – Get Rating) in a report released on Tuesday. The firm set a “hold” rating on the oil and gas producer’s stock.

Shares of NYSE:GNE opened at $6.50 on Tuesday. The business’s fifty day moving average is $6.44. The firm has a market capitalization of $170.36 million, a P/E ratio of 5.80 and a beta of 0.41. Genie Energy has a 52-week low of $4.74 and a 52-week high of $6.98.

Genie Energy (NYSE:GNE – Get Rating) last posted its quarterly earnings data on Thursday, March 10th. The oil and gas producer reported $0.11 earnings per share for the quarter. Genie Energy had a return on equity of 5.62% and a net margin of 7.03%. The business had revenue of $84.70 million during the quarter.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. increased its stake in shares of Genie Energy by 280.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 13,300 shares of the oil and gas producer’s stock worth $87,000 after purchasing an additional 9,800 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Genie Energy by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 178,450 shares of the oil and gas producer’s stock valued at $1,165,000 after purchasing an additional 8,032 shares during the period. Verition Fund Management LLC bought a new position in Genie Energy in the 3rd quarter valued at $118,000. BlackRock Inc. boosted its holdings in Genie Energy by 4.4% in the 4th quarter. BlackRock Inc. now owns 393,161 shares of the oil and gas producer’s stock valued at $2,190,000 after purchasing an additional 16,390 shares during the period. Finally, Millennium Management LLC boosted its holdings in Genie Energy by 77.0% in the 2nd quarter. Millennium Management LLC now owns 80,788 shares of the oil and gas producer’s stock valued at $511,000 after purchasing an additional 35,144 shares during the period. 23.10% of the stock is currently owned by institutional investors and hedge funds.

Genie Energy Company Profile (Get Rating)

Genie Energy Ltd., through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States, Finland, Sweden, Japan, and internationally. It operates in three segments: Genie Retail Energy (GRE); GRE International; and Genie Renewables. The company also engages in the provision of energy advisory and brokerage services; solar panel manufacturing and distribution; solar installation design; and project management activities.

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