Genie Energy (NYSE:GNE) Lowered to Buy Rating by StockNews.com

StockNews.com lowered shares of Genie Energy (NYSE:GNE) from a strong-buy rating to a buy rating in a research report released on Thursday.

Genie Energy Trading Down 0.2 %

Genie Energy stock opened at $14.78 on Thursday. Genie Energy has a 12 month low of $13.05 and a 12 month high of $17.93. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $14.47 and its two-hundred day simple moving average is $15.40. The company has a market capitalization of $401.88 million, a price-to-earnings ratio of 105.54 and a beta of 0.02.

Genie Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.30 annualized dividend and a yield of 2.03%. Genie Energy’s dividend payout ratio (DPR) is presently 214.29%.

Institutional Investors Weigh In On Genie Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Genie Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 1,270,284 shares of the oil and gas producer’s stock valued at $19,804,000 after purchasing an additional 39,749 shares during the last quarter. J. Goldman & Co LP boosted its position in shares of Genie Energy by 14.8% during the fourth quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer’s stock valued at $10,543,000 after buying an additional 87,206 shares during the last quarter. State Street Corp increased its holdings in Genie Energy by 2.4% in the 3rd quarter. State Street Corp now owns 520,358 shares of the oil and gas producer’s stock worth $8,456,000 after buying an additional 11,981 shares in the last quarter. Geode Capital Management LLC raised its position in Genie Energy by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 430,370 shares of the oil and gas producer’s stock worth $6,712,000 after buying an additional 9,283 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Genie Energy by 24.3% during the 4th quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer’s stock valued at $2,599,000 after acquiring an additional 32,630 shares during the period. 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.