Genie Energy Ltd (NYSE:GNE) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also assigned Genie Energy an industry rank of 157 out of 256 based on the ratings given to related companies.
GNE has been the subject of several recent research reports. Zacks Investment Research lowered shares of Genie Energy from a “hold” rating to a “strong sell” rating in a report on Saturday. Noble Financial reaffirmed a “hold” rating on shares of Genie Energy in a research note on Wednesday, August 7th.
In other Genie Energy news, Director James A. Courter purchased 56,649 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $7.01 per share, for a total transaction of $397,109.49. Following the completion of the purchase, the director now directly owns 313,632 shares of the company’s stock, valued at $2,198,560.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 29.60% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of GNE. BlackRock Inc. increased its stake in Genie Energy by 163.0% during the second quarter. BlackRock Inc. now owns 1,105,173 shares of the oil and gas producer’s stock worth $11,769,000 after purchasing an additional 684,973 shares during the period. Vanguard Group Inc. increased its stake in shares of Genie Energy by 32.9% during the second quarter. Vanguard Group Inc. now owns 990,677 shares of the oil and gas producer’s stock worth $10,551,000 after buying an additional 245,063 shares during the period. Acadian Asset Management LLC increased its stake in shares of Genie Energy by 116.9% during the second quarter. Acadian Asset Management LLC now owns 127,782 shares of the oil and gas producer’s stock worth $1,361,000 after buying an additional 68,866 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Genie Energy during the second quarter worth approximately $698,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Genie Energy during the second quarter worth approximately $616,000. Institutional investors own 20.16% of the company’s stock.
Genie Energy stock traded down $0.38 during midday trading on Friday, hitting $7.18. 5,054 shares of the company’s stock were exchanged, compared to its average volume of 241,257. The company has a current ratio of 2.02, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Genie Energy has a 12 month low of $5.08 and a 12 month high of $11.98. The business’s 50-day moving average price is $10.33. The firm has a market cap of $198.58 million, a P/E ratio of 8.02 and a beta of 1.37.
Genie Energy (NYSE:GNE) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.38). The firm had revenue of $61.01 million during the quarter, compared to the consensus estimate of $51.10 million. Genie Energy had a net margin of 6.08% and a return on equity of 24.42%. As a group, sell-side analysts expect that Genie Energy will post 0.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 16th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.30 dividend on an annualized basis and a yield of 4.18%. Genie Energy’s dividend payout ratio (DPR) is presently 33.33%.
Genie Energy Company Profile
Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.
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