Genie Energy Ltd Plans Quarterly Dividend of $0.08 (NYSE:GNE)

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Genie Energy Ltd (NYSE:GNE) declared a quarterly dividend on Monday, August 5th, NASDAQ reports. Investors of record on Friday, August 16th will be given a dividend of 0.075 per share by the oil and gas producer on Friday, August 23rd. This represents a $0.30 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, August 15th.

Genie Energy has raised its dividend payment by an average of 35.7% per year over the last three years.

NYSE:GNE opened at $7.56 on Wednesday. Genie Energy has a 1-year low of $5.08 and a 1-year high of $11.98. The company has a quick ratio of 1.83, a current ratio of 2.02 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $10.33. The company has a market capitalization of $198.58 million, a PE ratio of 8.40 and a beta of 1.37.

Genie Energy (NYSE:GNE) last released its earnings results on Monday, August 5th. The oil and gas producer reported ($0.29) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.38). Genie Energy had a net margin of 6.08% and a return on equity of 24.42%. The firm had revenue of $61.01 million during the quarter, compared to the consensus estimate of $51.10 million. Research analysts predict that Genie Energy will post 0.28 EPS for the current year.

GNE has been the subject of several research reports. Noble Financial reaffirmed a “hold” rating on shares of Genie Energy in a report on Wednesday, August 7th. Zacks Investment Research downgraded Genie Energy from a “hold” rating to a “strong sell” rating in a report on Saturday.

In other Genie Energy news, Director James A. Courter purchased 56,649 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $7.01 per share, with a total value of $397,109.49. Following the acquisition, the director now directly owns 313,632 shares of the company’s stock, valued at approximately $2,198,560.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 29.60% of the company’s stock.

Genie Energy Company Profile

Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.

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Dividend History for Genie Energy (NYSE:GNE)

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