171,079 Shares in Genie Energy Ltd. (NYSE:GNE) Bought by Significant Wealth Partners LLC

Significant Wealth Partners LLC purchased a new stake in shares of Genie Energy Ltd. (NYSE:GNE) during the fourth quarter, Holdings Channel reports. The fund purchased 171,079 shares of the oil and gas producer’s stock, valued at approximately $4,812,000. Genie Energy comprises about 3.5% of Significant Wealth Partners LLC’s holdings, making the stock its biggest holding.

A number of other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. boosted its position in Genie Energy by 63,668.2% during the fourth quarter. Federated Hermes Inc. now owns 126,261 shares of the oil and gas producer’s stock valued at $3,552,000 after acquiring an additional 126,063 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Genie Energy during the 4th quarter worth about $164,000. Mackenzie Financial Corp bought a new position in shares of Genie Energy during the 4th quarter worth about $366,000. Granite Bay Wealth Management LLC boosted its position in shares of Genie Energy by 205.8% during the 4th quarter. Granite Bay Wealth Management LLC now owns 39,375 shares of the oil and gas producer’s stock worth $1,108,000 after purchasing an additional 26,500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Genie Energy by 20.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 52,689 shares of the oil and gas producer’s stock worth $1,482,000 after purchasing an additional 8,833 shares in the last quarter. Institutional investors own 49.15% of the company’s stock.

Genie Energy Price Performance

Shares of GNE stock traded up $0.09 on Monday, reaching $15.99. 30,772 shares of the company were exchanged, compared to its average volume of 172,543. The company has a market cap of $437.49 million, a price-to-earnings ratio of 21.49 and a beta of 0.17. The company has a 50-day moving average of $16.68 and a 200-day moving average of $20.74. Genie Energy Ltd. has a one year low of $12.95 and a one year high of $30.90.

Genie Energy (NYSE:GNE) last posted its earnings results on Monday, March 11th. The oil and gas producer reported $0.37 earnings per share for the quarter. Genie Energy had a net margin of 4.56% and a return on equity of 25.39%. The company had revenue of $104.90 million for the quarter.

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.88%. Genie Energy’s dividend payout ratio is presently 40.54%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Genie Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th.

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.