Rhumbline Advisers Reduces Stock Position in Genie Energy Ltd. $GNE

Rhumbline Advisers reduced its holdings in shares of Genie Energy Ltd. (NYSE:GNE) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,500 shares of the oil and gas producer’s stock after selling 852 shares during the quarter. Rhumbline Advisers owned about 0.08% of Genie Energy worth $309,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. GSA Capital Partners LLP lifted its stake in shares of Genie Energy by 3.4% during the 1st quarter. GSA Capital Partners LLP now owns 59,596 shares of the oil and gas producer’s stock valued at $897,000 after buying an additional 1,948 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Genie Energy by 5.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 41,746 shares of the oil and gas producer’s stock valued at $628,000 after buying an additional 2,014 shares in the last quarter. Significant Wealth Partners LLC increased its holdings in Genie Energy by 20.6% during the 1st quarter. Significant Wealth Partners LLC now owns 15,668 shares of the oil and gas producer’s stock worth $236,000 after acquiring an additional 2,675 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Genie Energy during the 1st quarter worth approximately $85,000. Finally, Martingale Asset Management L P increased its holdings in Genie Energy by 7.9% during the 1st quarter. Martingale Asset Management L P now owns 84,584 shares of the oil and gas producer’s stock worth $1,273,000 after acquiring an additional 6,170 shares during the period. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 6th.

Genie Energy Price Performance

Shares of NYSE:GNE opened at $15.65 on Thursday. The company’s fifty day moving average price is $16.89 and its 200-day moving average price is $18.20. The firm has a market capitalization of $418.01 million, a price-to-earnings ratio of 111.79 and a beta of 0.10. Genie Energy Ltd. has a one year low of $13.05 and a one year high of $28.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.99 and a quick ratio of 1.85.

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

Genie Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Monday, August 11th were issued a $0.075 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. Genie Energy’s dividend payout ratio is presently 214.29%.

Genie Energy Company 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.