Genie Energy (NYSE:GNE) Sets New 52-Week High – Should You Buy?

Genie Energy Ltd. (NYSE:GNE)’s share price reached a new 52-week high on Monday . The stock traded as high as $26.56 and last traded at $26.65, with a volume of 45797 shares. The stock had previously closed at $25.98.

Analyst Upgrades and Downgrades

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

Genie Energy Trading Up 1.8%

The company has a market cap of $731.69 million, a price-to-earnings ratio of 194.68 and a beta of 0.12. The business’s 50 day moving average price is $19.45 and its 200-day moving average price is $16.37. The company has a current ratio of 2.03, a quick ratio of 1.92 and a debt-to-equity ratio of 0.04.

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

Genie Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.10%. Genie Energy’s dividend payout ratio (DPR) is currently 214.29%.

Insider Activity at Genie Energy

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 transaction of $51,742.40. Following the transaction, the director now owns 38,690 shares in the company, valued at $685,586.80. This represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. acquired a new position in shares of Genie Energy during the 4th quarter worth approximately $238,000. Bank of America Corp DE grew its position in shares of Genie Energy by 77.0% during the 4th quarter. Bank of America Corp DE now owns 29,880 shares of the oil and gas producer’s stock worth $466,000 after purchasing an additional 13,001 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Genie Energy by 39.7% during the 4th quarter. Two Sigma Investments LP now owns 59,103 shares of the oil and gas producer’s stock worth $921,000 after purchasing an additional 16,788 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Genie Energy during the 4th quarter worth approximately $588,000. Finally, Martingale Asset Management L P grew its position in shares of Genie Energy by 113.1% during the 4th quarter. Martingale Asset Management L P now owns 78,414 shares of the oil and gas producer’s stock worth $1,222,000 after purchasing an additional 41,623 shares in the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

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.