Connor Clark & Lunn Investment Management Ltd. cut its stake in Genie Energy Ltd. (NYSE:GNE – Free Report) by 13.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,398 shares of the oil and gas producer’s stock after selling 2,677 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Genie Energy worth $240,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the business. Barclays PLC grew its position in Genie Energy by 21.1% during the first quarter. Barclays PLC now owns 12,396 shares of the oil and gas producer’s stock valued at $172,000 after buying an additional 2,160 shares during the period. Janney Montgomery Scott LLC grew its position in Genie Energy by 12.2% during the first quarter. Janney Montgomery Scott LLC now owns 36,610 shares of the oil and gas producer’s stock valued at $506,000 after buying an additional 3,993 shares during the period. Denali Advisors LLC grew its position in Genie Energy by 32.3% during the first quarter. Denali Advisors LLC now owns 16,800 shares of the oil and gas producer’s stock valued at $232,000 after buying an additional 4,100 shares during the period. State of Tennessee Treasury Department grew its position in Genie Energy by 29.8% during the fourth quarter. State of Tennessee Treasury Department now owns 30,255 shares of the oil and gas producer’s stock valued at $313,000 after buying an additional 6,952 shares during the period. Finally, Kahn Brothers Group Inc. grew its position in Genie Energy by 1.0% during the fourth quarter. Kahn Brothers Group Inc. now owns 325,877 shares of the oil and gas producer’s stock valued at $3,369,000 after buying an additional 3,100 shares during the period. 25.92% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Genie Energy
In other Genie Energy news, Director Alan B. Rosenthal sold 2,500 shares of Genie Energy stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $15.52, for a total transaction of $38,800.00. Following the transaction, the director now owns 36,003 shares of the company’s stock, valued at $558,766.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.90% of the company’s stock.
Genie Energy Price Performance
Genie Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, August 11th. Genie Energy’s dividend payout ratio is currently 12.40%.
Analyst Upgrades and Downgrades
Separately, StockNews.com began coverage on shares of Genie Energy in a research report on Thursday, August 17th. They set a “buy” rating for the company.
Genie Energy Profile
Genie Energy Ltd., through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, Genie Retail Energy 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 advisory and brokerage services; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.
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