Genie Energy (NYSE:GNE) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Genie Energy Ltd. (NYSE:GNE) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $14.38 and traded as high as $16.02. Genie Energy shares last traded at $15.83, with a volume of 78,426 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GNE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Genie Energy in a research note on Monday, September 14th. Freedom Capital cut Genie Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Genie Energy Stock Up 1.2%

The business’s 50 day moving average is $15.02 and its 200-day moving average is $14.39. The stock has a market cap of $420.44 million, a price-to-earnings ratio of 19.72 and a beta of 0.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.75 and a current ratio of 2.89.

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

Genie Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Friday, August 14th were given a dividend of $0.0750 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 14th. Genie Energy’s dividend payout ratio is 37.04%.

Institutional Investors Weigh In On Genie Energy

Several institutional investors have recently bought and sold shares of the company. Kahn Brothers Group Inc. acquired a new position in shares of Genie Energy during the second quarter valued at approximately $2,474,655. Quantinno Capital Management LP boosted its stake in shares of Genie Energy by 92.9% in 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 acquiring an additional 74,046 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Genie Energy during the first quarter worth approximately $365,000. Empowered Funds LLC purchased a new stake in shares of Genie Energy during the first quarter worth approximately $204,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Genie Energy in the 2nd quarter valued at $175,000. 49.15% of the stock is currently owned by institutional investors and hedge funds.

About Genie Energy

Genie Energy Ltd. is an energy services company that provides electricity and natural gas to residential and small-business customers. Through its retail energy operations, the company offers customers energy supply plans and related services in deregulated markets, where consumers can choose an independent supplier rather than purchasing directly from a regulated utility.

The company also operates businesses focused on renewable energy and other energy-related solutions. Its offerings have included residential and commercial solar products, solar project development and installation services, and energy management or advisory services.