Genie Energy (NYSE:GNE) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Genie Energy (NYSE:GNE) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

GNE has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Genie Energy in a research note on Monday, September 14th. Freedom Capital cut shares of Genie Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Genie Energy Price Performance

Shares of NYSE:GNE opened at $17.66 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.89 and a debt-to-equity ratio of 0.03. Genie Energy has a twelve month low of $12.69 and a twelve month high of $17.83. The stock’s 50 day moving average is $16.25 and its 200-day moving average is $14.70. The firm has a market capitalization of $464.76 million, a price-to-earnings ratio of 21.80 and a beta of 0.30.

Genie Energy (NYSE:GNE) last issued its earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. Genie Energy had a return on equity of 13.31% and a net margin of 5.86%. The company had revenue of $100.40 million for the quarter, compared to analysts’ expectations of $104.57 million.

Genie Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 13th will be paid a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, November 13th. Genie Energy’s dividend payout ratio is presently 37.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GNE. Russell Investments Group Ltd. increased its stake in Genie Energy by 6.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 24,016 shares of the oil and gas producer’s stock worth $384,000 after purchasing an additional 1,391 shares during the period. Vise Technologies Inc. boosted its stake in shares of Genie Energy by 31.1% during the third quarter. Vise Technologies Inc. now owns 14,934 shares of the oil and gas producer’s stock valued at $239,000 after purchasing an additional 3,545 shares during the period. Signaturefd LLC purchased a new stake in shares of Genie Energy during the third quarter valued at approximately $32,000. Kahn Brothers Group Inc. purchased a new stake in shares of Genie Energy during the second quarter valued at approximately $2,196,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Genie Energy in the second quarter worth approximately $175,000. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

About Genie Energy

Genie Energy Ltd. is an energy services company that provides electricity and natural gas to residential and small-business customers through retail energy businesses. Its offerings may include energy supply plans, renewable energy options and related services, with operations conducted through a portfolio of brands and subsidiaries.

The company’s retail energy activities have historically included serving customers in U.S. deregulated energy markets, where consumers can select an independent supplier rather than purchasing supply directly from a regulated utility.