Wall Street Zen Upgrades Genie Energy (NYSE:GNE) to “Strong-Buy”

Wall Street Zen upgraded shares of Genie Energy (NYSE:GNE) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

Genie Energy Trading Down 1.6%

NYSE GNE opened at $15.58 on Friday. The firm has a market cap of $416.14 million, a PE ratio of 111.29 and a beta of 0.15. Genie Energy has a 1-year low of $13.05 and a 1-year high of $28.47. The stock has a 50-day moving average of $22.23 and a 200-day moving average of $18.11. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Thursday, August 7th. The oil and gas producer reported $0.11 earnings per share for the quarter. Genie Energy had a return on equity of 6.40% and a net margin of 1.82%.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, August 11th. Genie Energy’s dividend payout ratio is 214.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GNE. Ameritas Investment Partners Inc. lifted its holdings in Genie Energy by 71.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,171 shares of the oil and gas producer’s stock worth $58,000 after buying an additional 906 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Genie Energy in the first quarter valued at $85,000. Wells Fargo & Company MN increased 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 purchasing an additional 1,699 shares during the period. Police & Firemen s Retirement System of New Jersey raised its holdings in Genie Energy by 29.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,691 shares of the oil and gas producer’s stock worth $126,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Ascent Group LLC purchased a new stake in shares of Genie Energy in the 1st quarter worth about $158,000. Hedge funds and other institutional investors 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.