Genie Energy (NYSE:GNE) Shares Cross Above Two Hundred Day Moving Average of $9.79

Genie Energy Ltd. (NYSE:GNE – Get Rating)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.79 and traded as high as $10.61. Genie Energy shares last traded at $10.06, with a volume of 72,283 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Genie Energy in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company.

Genie Energy Trading Down 1.9 %

The firm has a market capitalization of $260.42 million, a P/E ratio of 2.65 and a beta of 0.37. The stock has a 50 day simple moving average of $10.16 and a 200-day simple moving average of $9.79.

Genie Energy (NYSE:GNE – Get Rating) last posted its quarterly earnings data on Monday, November 7th. The oil and gas producer reported $0.85 earnings per share for the quarter. Genie Energy had a return on equity of 65.20% and a net margin of 29.55%. The firm had revenue of $81.29 million for the quarter.

Genie Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Stockholders of record on Monday, November 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.98%. Genie Energy’s payout ratio is currently 7.92%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GNE. State Street Corp lifted its holdings in Genie Energy by 4.9% in the 1st quarter. State Street Corp now owns 96,674 shares of the oil and gas producer’s stock worth $653,000 after purchasing an additional 4,481 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Genie Energy by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 714,685 shares of the oil and gas producer’s stock worth $6,547,000 after purchasing an additional 23,100 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Genie Energy by 168.7% in the 2nd quarter. Captrust Financial Advisors now owns 3,348 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 2,102 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Genie Energy in the 2nd quarter worth approximately $96,000. Finally, Denali Advisors LLC lifted its holdings in Genie Energy by 200.0% in the 3rd quarter. Denali Advisors LLC now owns 7,500 shares of the oil and gas producer’s stock worth $70,000 after purchasing an additional 5,000 shares in the last quarter. 24.38% of the stock is owned by hedge funds and other institutional investors.

Genie Energy Company Profile

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Genie Energy Ltd. engages in the provision of energy services. It operates through the following segments: Genie Retail Energy (GRE), Genie Energy Services (GES), GRE International and Genie Oil and Gas, Inc (GOGAS). The GRE segment owns and operates retail energy providers which resell electricity and natural gas to residential and business customers.