Genie Energy Ltd. (NYSE:GNE) Director Sells $51,742.40 in Stock

Genie Energy Ltd. (NYSE:GNE) Director Allan Sass sold 2,920 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $17.72, for a total value of $51,742.40. Following the sale, the director now owns 38,690 shares in the company, valued at $685,586.80. The trade was a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Genie Energy Trading Down 1.0%

Shares of GNE opened at $19.23 on Thursday. Genie Energy Ltd. has a fifty-two week low of $13.05 and a fifty-two week high of $19.79. The firm has a market cap of $516.17 million, a price-to-earnings ratio of 137.35 and a beta of -0.02. The firm has a 50 day moving average price of $15.58 and a 200-day moving average price of $15.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56.

Genie Energy (NYSE:GNE) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%. The business had revenue of $136.81 million during the quarter.

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.56%. The ex-dividend date is Monday, May 19th. Genie Energy’s dividend payout ratio is presently 214.29%.

Hedge Funds Weigh In On Genie Energy

A number of large investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in shares of Genie Energy by 7.7% during the fourth quarter. Legal & General Group Plc now owns 19,166 shares of the oil and gas producer’s stock valued at $299,000 after purchasing an additional 1,375 shares during the period. American Century Companies Inc. raised its holdings in Genie Energy by 4.9% during the 4th quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer’s stock valued at $526,000 after buying an additional 1,566 shares during the last quarter. Wells Fargo & Company MN boosted its position in Genie Energy by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 1,699 shares during the period. GSA Capital Partners LLP grew its holdings in Genie Energy by 3.4% in the 1st quarter. GSA Capital Partners LLP now owns 59,596 shares of the oil and gas producer’s stock worth $897,000 after acquiring an additional 1,948 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Genie Energy by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 41,746 shares of the oil and gas producer’s stock valued at $628,000 after acquiring an additional 2,014 shares during the period. 49.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com raised Genie Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 7th.

About Genie Energy

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.