Kahn Brothers Group Inc. Invests $2.20 Million in Genie Energy Ltd. $GNE

Kahn Brothers Group Inc. bought a new position in shares of Genie Energy Ltd. (NYSE:GNE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 151,941 shares of the oil and gas producer’s stock, valued at approximately $2,196,000. Kahn Brothers Group Inc. owned about 0.58% of Genie Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its holdings in shares of Genie Energy by 92.9% during the first quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock worth $2,174,000 after purchasing an additional 74,046 shares during the last quarter. PharVision Advisers LLC purchased a new stake in shares of Genie Energy in the third quarter valued at $209,000. New York State Common Retirement Fund increased its stake in Genie Energy by 98.3% in the second quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer’s stock valued at $206,000 after purchasing an additional 3,800 shares during the last quarter. Marshall Wace LLP acquired a new position in Genie Energy in the fourth quarter valued at $171,000. Finally, Vise Technologies Inc. purchased a new position in Genie Energy during the fourth quarter worth about $159,000. 49.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Freedom Capital lowered Genie Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 18th. Finally, Wall Street Zen cut shares of Genie Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Genie Energy has an average rating of “Hold”.

Genie Energy Trading Down 0.7%

GNE stock opened at $14.90 on Friday. The company has a market cap of $392.30 million, a price-to-earnings ratio of 18.40 and a beta of 0.20. The company has a quick ratio of 2.75, a current ratio of 2.89 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $14.43 and a 200-day simple moving average of $14.20. Genie Energy Ltd. has a 52 week low of $12.69 and a 52 week high of $16.28.

Genie Energy (NYSE:GNE) last issued its earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.The firm had revenue of $100.40 million for the quarter, compared to analysts’ expectations of $104.57 million.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Friday, August 14th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 14th. Genie Energy’s payout ratio is currently 37.04%.

Genie Energy Profile

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.