Genie Energy (NYSE:GNE) Upgraded at StockNews.com

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

Genie Energy Trading Up 2.5 %

Shares of Genie Energy stock opened at $16.55 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The stock’s 50 day simple moving average is $14.98 and its 200-day simple moving average is $15.03. The stock has a market cap of $447.02 million, a P/E ratio of 118.22 and a beta of -0.02. Genie Energy has a 1-year low of $13.05 and a 1-year high of $17.93.

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share for the quarter. Genie Energy had a return on equity of 21.48% and a net margin of 0.80%. The company had revenue of $136.81 million for the quarter.

Genie Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, May 19th. Genie Energy’s dividend payout ratio (DPR) is presently 214.29%.

Institutional Trading of Genie Energy

Several hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new position in Genie Energy in the fourth quarter worth approximately $37,000. SG Americas Securities LLC purchased a new position in shares of Genie Energy during the 4th quarter worth $107,000. Wells Fargo & Company MN increased its position in shares of 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 worth $120,000 after purchasing an additional 1,699 shares during the last quarter. PDT Partners LLC purchased a new stake in Genie Energy in the 4th quarter valued at about $174,000. Finally, Pictet Asset Management Holding SA acquired a new position in Genie Energy in the fourth quarter valued at about $209,000. 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.