Genie Energy Ltd. (NYSE:GNE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Genie Energy Ltd. (NYSE:GNE) by 64.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,993 shares of the oil and gas producer’s stock after purchasing an additional 8,625 shares during the quarter. JPMorgan Chase & Co. owned 0.08% of Genie Energy worth $343,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. increased its position in shares of Genie Energy by 4.9% in the fourth quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer’s stock worth $526,000 after acquiring an additional 1,566 shares in the last quarter. R Squared Ltd purchased a new position in Genie Energy in the fourth quarter valued at about $37,000. SG Americas Securities LLC acquired a new position in shares of Genie Energy during the fourth quarter worth about $107,000. Barclays PLC boosted its position in shares of Genie Energy by 234.6% in the third quarter. Barclays PLC now owns 20,617 shares of the oil and gas producer’s stock worth $334,000 after buying an additional 14,455 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Genie Energy by 4.4% in the third quarter. Geode Capital Management LLC now owns 421,087 shares of the oil and gas producer’s stock valued at $6,844,000 after buying an additional 17,613 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Genie Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th.

Genie Energy Price Performance

Shares of GNE stock opened at $15.39 on Friday. The firm has a fifty day simple moving average of $14.85 and a 200-day simple moving average of $15.05. The company has a market capitalization of $415.68 million, a PE ratio of 109.94 and a beta of 0.04. Genie Energy Ltd. has a twelve month low of $13.05 and a twelve month high of $17.93. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a $0.075 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.95%. Genie Energy’s payout ratio is currently 214.29%.

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.