Genie Energy (NYSE:GNE) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Genie Energy (NYSE:GNE) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Genie Energy in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Genie Energy Price Performance

Shares of NYSE:GNE opened at $14.41 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.91 and a quick ratio of 1.74. Genie Energy has a one year low of $13.05 and a one year high of $28.47. The company has a market cap of $381.76 million, a price-to-earnings ratio of 18.01 and a beta of 0.08. The firm has a 50 day simple moving average of $14.83 and a 200 day simple moving average of $17.83.

Genie Energy (NYSE:GNE) last issued its earnings results on Monday, November 3rd. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). The firm had revenue of $138.32 million during the quarter, compared to analyst estimates of $130.79 million. Genie Energy had a return on equity of 4.47% and a net margin of 1.00%.

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. Genie Energy’s dividend payout ratio (DPR) is currently 37.50%.

Hedge Funds Weigh In On Genie Energy

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its stake in Genie Energy by 71.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,171 shares of the oil and gas producer’s stock valued at $58,000 after purchasing an additional 906 shares in the last quarter. Quarry LP bought a new position in shares of Genie Energy during the third quarter valued at about $35,000. Federated Hermes Inc. lifted its holdings in Genie Energy by 168.2% in the 3rd quarter. Federated Hermes Inc. now owns 2,406 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 1,509 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in Genie Energy by 29.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,691 shares of the oil and gas producer’s stock valued at $126,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Genie Energy during the 1st quarter valued at about $85,000. Hedge funds and other 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.