Genie Energy Ltd. $GNE Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Genie Energy Ltd. (NYSE:GNE) by 22.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,916 shares of the oil and gas producer’s stock after acquiring an additional 102,702 shares during the quarter. Geode Capital Management LLC owned 2.09% of Genie Energy worth $15,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Genie Energy by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 41,746 shares of the oil and gas producer’s stock valued at $628,000 after purchasing an additional 2,014 shares in the last quarter. Nuveen LLC purchased a new position in shares of Genie Energy in the 1st quarter worth $1,195,000. Martingale Asset Management L P lifted its stake in shares of Genie Energy by 7.9% in the 1st quarter. Martingale Asset Management L P now owns 84,584 shares of the oil and gas producer’s stock valued at $1,273,000 after purchasing an additional 6,170 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Genie Energy during the first quarter valued at approximately $85,000. Finally, PDT Partners LLC lifted its holdings in shares of Genie Energy by 68.4% during the 1st quarter. PDT Partners LLC now owns 18,789 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 7,632 shares in the last quarter. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Genie Energy in a research report on Wednesday, October 8th. Wall Street Zen upgraded Genie Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Genie Energy Price Performance

NYSE GNE opened at $14.14 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.99 and a quick ratio of 1.85. The firm has a market capitalization of $374.64 million, a PE ratio of 17.68 and a beta of 0.05. The company’s 50 day simple moving average is $15.04 and its 200 day simple moving average is $18.22. Genie Energy Ltd. has a 12 month low of $13.05 and a 12 month high of $28.47.

Genie Energy (NYSE:GNE) last released its earnings results on Monday, November 3rd. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). The firm had revenue of $138.32 million for the quarter, compared to analyst estimates of $130.79 million. Genie Energy had a return on equity of 6.40% and a net margin of 1.82%.

Genie Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.1%. Genie Energy’s payout ratio is 37.50%.

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.