Genie Energy Ltd. $GNE Stake Lessened by Invesco Ltd.

Invesco Ltd. reduced its holdings in Genie Energy Ltd. (NYSE:GNE) by 12.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,948 shares of the oil and gas producer’s stock after selling 3,811 shares during the quarter. Invesco Ltd. owned approximately 0.10% of Genie Energy worth $406,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Wells Fargo & Company MN boosted its holdings in shares of Genie Energy by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock valued at $120,000 after acquiring an additional 1,699 shares during the period. Deutsche Bank AG boosted its holdings in shares of Genie Energy by 4,503.7% during the fourth quarter. Deutsche Bank AG now owns 13,673 shares of the oil and gas producer’s stock valued at $213,000 after acquiring an additional 13,376 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Genie Energy by 26.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,701 shares of the oil and gas producer’s stock valued at $230,000 after acquiring an additional 3,119 shares during the period. Significant Wealth Partners LLC boosted its holdings in shares of Genie Energy by 20.6% during the first quarter. Significant Wealth Partners LLC now owns 15,668 shares of the oil and gas producer’s stock valued at $236,000 after acquiring an additional 2,675 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Genie Energy during the fourth quarter valued at $238,000. 49.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday.

Genie Energy Price Performance

Shares of Genie Energy stock opened at $15.12 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $19.16 and its two-hundred day moving average price is $18.18. Genie Energy Ltd. has a 52 week low of $13.05 and a 52 week high of $28.47. The stock has a market cap of $403.94 million, a PE ratio of 108.02 and a beta of 0.10.

Genie Energy (NYSE:GNE) last posted its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter. Genie Energy had a return on equity of 6.40% and a net margin of 1.82%.

Genie Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Monday, August 11th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.30 annualized dividend and a dividend yield of 2.0%. Genie Energy’s payout ratio is presently 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.