Genie Energy (NYSE:GNE) Now Covered by StockNews.com

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

Separately, TheStreet upgraded Genie Energy from a “c+” rating to a “b” rating in a report on Monday.

Shares of Genie Energy stock opened at $6.72 on Friday. The stock has a market cap of $176.12 million, a PE ratio of 6.00 and a beta of 0.42. The business has a fifty day simple moving average of $6.61 and a 200-day simple moving average of $5.83. Genie Energy has a 12 month low of $4.74 and a 12 month high of $7.22.

Genie Energy (NYSE:GNE – Get Rating) last announced its quarterly earnings data on Thursday, March 10th. The oil and gas producer reported $0.11 earnings per share (EPS) 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.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Genie Energy by 4.4% during the fourth quarter. BlackRock Inc. now owns 393,161 shares of the oil and gas producer’s stock valued at $2,190,000 after buying an additional 16,390 shares in the last quarter. Kahn Brothers Group Inc. acquired a new stake in shares of Genie Energy in the first quarter valued at about $2,180,000. Geode Capital Management LLC grew its position in shares of Genie Energy by 4.7% in the third 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 last quarter. Millennium Management LLC grew its position in shares of Genie Energy by 77.0% in the second 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 last quarter. Finally, Morgan Stanley grew its position in shares of Genie Energy by 336.5% in the second quarter. Morgan Stanley now owns 30,975 shares of the oil and gas producer’s stock valued at $196,000 after purchasing an additional 23,878 shares during the last quarter. Institutional investors own 24.70% of the company’s stock.

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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