Genie Energy Ltd. to Issue Quarterly Dividend of $0.08 (NYSE:GNE)

Genie Energy Ltd. (NYSE:GNE) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.075 per share by the oil and gas producer on Friday, May 31st. This represents a $0.30 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, May 17th.

Genie Energy has decreased its dividend payment by an average of 3.1% annually over the last three years.

Genie Energy Stock Performance

GNE stock traded up $0.32 during midday trading on Thursday, hitting $15.10. 58,592 shares of the stock were exchanged, compared to its average volume of 163,313. Genie Energy has a fifty-two week low of $12.95 and a fifty-two week high of $30.90. The stock has a market cap of $413.14 million, a price-to-earnings ratio of 19.97 and a beta of 0.17. The stock’s 50-day moving average price is $16.05 and its 200-day moving average price is $20.49.

Genie Energy (NYSE:GNE) last announced its earnings results on Monday, March 11th. The oil and gas producer reported $0.37 EPS for the quarter. Genie Energy had a return on equity of 25.39% and a net margin of 4.56%. The firm had revenue of $104.90 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Genie Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th.

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.