AlphaQuest LLC Acquires New Stake in Genie Energy Ltd. $GNE

AlphaQuest LLC bought a new position in shares of Genie Energy Ltd. (NYSE:GNE) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 6,334 shares of the oil and gas producer’s stock, valued at approximately $170,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Genie Energy in the first quarter worth approximately $85,000. Ascent Group LLC bought a new stake in shares of Genie Energy in the 1st quarter valued at $158,000. Inspire Investing LLC bought a new stake in shares of Genie Energy in the 2nd quarter valued at $397,000. Significant Wealth Partners LLC increased its position 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 worth $236,000 after buying an additional 2,675 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Genie Energy during the first quarter worth $239,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Trading Down 1.4%

GNE opened at $14.84 on Tuesday. The company has a fifty day moving average price of $15.27 and a two-hundred day moving average price of $18.38. Genie Energy Ltd. has a 1-year low of $13.05 and a 1-year high of $28.47. The company has a market cap of $396.44 million, a P/E ratio of 15.79 and a beta of 0.05. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04.

Genie Energy (NYSE:GNE) last released 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 net margin of 1.82% and a return on equity of 6.40%. The company had revenue of $105.25 million for the quarter.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, November 10th. Genie Energy’s dividend payout ratio (DPR) is 31.91%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GNE shares. Wall Street Zen cut shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genie Energy in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

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.