Price T Rowe Associates Inc. MD Boosts Stake in Genie Energy Ltd. (NYSE:GNE)

Price T Rowe Associates Inc. MD grew its stake in Genie Energy Ltd. (NYSE:GNE) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,701 shares of the oil and gas producer’s stock after buying an additional 3,119 shares during the period. Price T Rowe Associates Inc. MD owned 0.05% of Genie Energy worth $230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Genie Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer’s stock worth $19,804,000 after buying an additional 39,749 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Genie Energy by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 430,370 shares of the oil and gas producer’s stock worth $6,712,000 after buying an additional 9,283 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Genie Energy by 24.3% in the fourth quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer’s stock worth $2,599,000 after buying an additional 32,630 shares during the last quarter. Americana Partners LLC raised its holdings in shares of Genie Energy by 37.8% in the fourth quarter. Americana Partners LLC now owns 159,200 shares of the oil and gas producer’s stock worth $2,482,000 after buying an additional 43,655 shares during the last quarter. Finally, Martingale Asset Management L P increased its stake in shares of Genie Energy by 113.1% in the fourth quarter. Martingale Asset Management L P now owns 78,414 shares of the oil and gas producer’s stock worth $1,222,000 after acquiring an additional 41,623 shares during the period. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Genie Energy Trading Up 3.0%

Shares of Genie Energy stock opened at $18.35 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The firm has a fifty day moving average price of $15.27 and a 200 day moving average price of $15.08. Genie Energy Ltd. has a 1 year low of $13.05 and a 1 year high of $18.38. The stock has a market cap of $495.66 million, a PE ratio of 131.09 and a beta of -0.02.

Genie Energy (NYSE:GNE) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%. The firm had revenue of $136.81 million during the quarter.

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.63%. Genie Energy’s dividend payout ratio (DPR) is presently 214.29%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Genie Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 7th.

Genie Energy Profile

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.