Genie Energy (NYSE:GNE) Hits New 12-Month High – What’s Next?

Genie Energy Ltd. (NYSE:GNE) shares hit a new 52-week high on Monday . The company traded as high as $21.90 and last traded at $20.92, with a volume of 92698 shares. The stock had previously closed at $21.14.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Genie Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 7th.

Genie Energy Trading Up 1.2%

The stock has a market cap of $574.24 million, a PE ratio of 152.80 and a beta of -0.02. The stock’s fifty day moving average price is $16.34 and its 200 day moving average price is $15.34. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01.

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

Genie Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 1.40%. Genie Energy’s payout ratio is presently 214.29%.

Insiders Place Their Bets

In other Genie Energy news, Director Allan Sass sold 2,920 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $17.72, for a total value of $51,742.40. Following the transaction, the director now directly owns 38,690 shares in the company, valued at approximately $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GNE. R Squared Ltd purchased a new position in shares of Genie Energy during the 4th quarter valued at $37,000. Cubist Systematic Strategies LLC purchased a new position in shares of Genie Energy during the 1st quarter valued at $85,000. SG Americas Securities LLC purchased a new position in shares of Genie Energy during the 4th quarter valued at $107,000. Wells Fargo & Company MN lifted its stake in shares of 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 in the last quarter. Finally, Ascent Group LLC purchased a new position in shares of Genie Energy during the 1st quarter valued at $158,000. 49.15% of the stock is currently owned by institutional investors.

Genie Energy Company Profile

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.