Genie Energy (NYSE:GNE) Reaches New 1-Year High – Should You Buy?

Genie Energy Ltd. (NYSE:GNE) shares hit a new 52-week high during trading on Monday . The company traded as high as $25.40 and last traded at $25.15, with a volume of 56280 shares trading hands. The stock had previously closed at $24.91.

Wall Street Analyst Weigh In

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

Genie Energy Stock Performance

The stock has a market capitalization of $675.98 million, a price-to-earnings ratio of 179.83 and a beta of 0.12. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.03 and a quick ratio of 1.92. The stock has a 50-day moving average of $18.33 and a 200 day moving average of $15.97.

Genie Energy (NYSE:GNE) last released its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 EPS for the quarter. The firm had revenue of $136.81 million during the quarter. Genie Energy had a net margin of 3.41% and a return on equity of 10.16%.

Genie Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.075 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.19%. Genie Energy’s dividend 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 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 sale, 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 17.40% of the company’s stock.

Institutional Trading of Genie Energy

A number of large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in Genie Energy in the first quarter valued at about $85,000. Wells Fargo & Company MN grew its position in shares of Genie Energy by 28.2% in 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 purchasing an additional 1,699 shares during the period. Ascent Group LLC bought a new stake in Genie Energy during the 1st quarter worth approximately $158,000. PDT Partners LLC bought a new position in Genie Energy in the fourth quarter valued at approximately $174,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Genie Energy in the fourth quarter valued at approximately $209,000. Institutional investors own 49.15% of the company’s stock.

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.