Genie Energy Ltd. (NYSE:GNE) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in Genie Energy Ltd. (NYSE:GNEGet Rating) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 635,685 shares of the oil and gas producer’s stock after selling 79,000 shares during the period. Renaissance Technologies LLC owned 2.43% of Genie Energy worth $5,944,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GNE. Hillsdale Investment Management Inc. boosted its holdings in shares of Genie Energy by 49.0% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 310,441 shares of the oil and gas producer’s stock valued at $2,902,000 after buying an additional 102,100 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Genie Energy during the 3rd quarter worth $286,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Genie Energy during the 3rd quarter worth $213,000. Dimensional Fund Advisors LP boosted its stake in Genie Energy by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,059,001 shares of the oil and gas producer’s stock worth $9,901,000 after purchasing an additional 22,763 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new stake in Genie Energy during the 2nd quarter worth $96,000. Institutional investors and hedge funds own 24.38% of the company’s stock.

Genie Energy Price Performance

Shares of NYSE:GNE opened at $11.67 on Friday. The stock has a market cap of $302.14 million, a P/E ratio of 3.08 and a beta of 0.38. The firm has a fifty day moving average price of $11.37 and a 200 day moving average price of $10.32. Genie Energy Ltd. has a 1-year low of $6.10 and a 1-year high of $13.25.

Genie Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Friday, February 17th. Genie Energy’s dividend payout ratio is currently 7.92%.

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.

Further Reading

Institutional Ownership by Quarter for Genie Energy (NYSE:GNE)

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