Federated Hermes Inc. Acquires 126,063 Shares of Genie Energy Ltd. (NYSE:GNE)

Federated Hermes Inc. raised its stake in shares of Genie Energy Ltd. (NYSE:GNE) by 63,668.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,261 shares of the oil and gas producer’s stock after buying an additional 126,063 shares during the period. Federated Hermes Inc. owned 0.46% of Genie Energy worth $3,552,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brandywine Global Investment Management LLC raised its stake in shares of Genie Energy by 61.3% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 78,603 shares of the oil and gas producer’s stock valued at $1,158,000 after acquiring an additional 29,883 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Genie Energy during the third quarter valued at approximately $444,000. Vanguard Group Inc. raised its position in shares of Genie Energy by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,190,112 shares of the oil and gas producer’s stock valued at $17,530,000 after purchasing an additional 11,434 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Genie Energy in the fourth quarter worth $211,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Genie Energy by 20.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 52,689 shares of the oil and gas producer’s stock worth $1,482,000 after buying an additional 8,833 shares during the period. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Stock Performance

Genie Energy stock opened at $15.51 on Friday. The business’s 50-day simple moving average is $16.47 and its 200-day simple moving average is $20.67. Genie Energy Ltd. has a 52 week low of $12.95 and a 52 week high of $30.90. The firm has a market capitalization of $424.35 million, a PE ratio of 20.96 and a beta of 0.17.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Monday, March 11th. The oil and gas producer reported $0.37 EPS for the quarter. The company had revenue of $104.90 million during the quarter. Genie Energy had a return on equity of 25.39% and a net margin of 4.56%.

Genie Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, February 16th. Genie Energy’s dividend payout ratio (DPR) is presently 40.54%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Genie Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th.

About Genie Energy

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE 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 brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.