Genie Energy (NYSE:GNE) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Genie Energy Ltd. (NYSE:GNE) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.12 and traded as high as $14.77. Genie Energy shares last traded at $14.5760, with a volume of 117,598 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GNE. Weiss Ratings raised Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Freedom Capital upgraded Genie Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen downgraded Genie Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Genie Energy Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.44 and a current ratio of 2.54. The firm has a market cap of $383.59 million, a P/E ratio of 29.65 and a beta of 0.20. The firm’s fifty day moving average price is $14.19 and its 200 day moving average price is $14.12.

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $100.40 million for the quarter, compared to the consensus estimate of $104.57 million. Genie Energy had a net margin of 4.95% and a return on equity of 13.00%.

Genie Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Friday, August 14th will be issued a $0.075 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.1%. Genie Energy’s dividend payout ratio (DPR) is currently 61.22%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GNE. Empowered Funds LLC bought a new stake in Genie Energy during the first quarter valued at about $204,000. Quantinno Capital Management LP grew its stake in Genie Energy by 92.9% in the first quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock valued at $2,174,000 after purchasing an additional 74,046 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Genie Energy by 5.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock worth $3,001,000 after purchasing an additional 10,044 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Genie Energy in the first quarter worth about $365,000. Finally, Invesco Ltd. lifted its position in shares of Genie Energy by 12.9% during the fourth quarter. Invesco Ltd. now owns 32,693 shares of the oil and gas producer’s stock valued at $451,000 after buying an additional 3,727 shares during the last quarter. 49.15% of the stock is owned by institutional investors.

Genie Energy Company Profile

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.