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

Genie Energy Ltd. (NYSE:GNE) declared a quarterly dividend on Thursday, February 5th. Shareholders of record on Wednesday, February 18th will be given a dividend of 0.075 per share by the oil and gas producer on Thursday, February 26th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, February 18th.

Genie Energy Price Performance

Shares of GNE stock traded up $0.27 during trading on Friday, hitting $14.20. The company had a trading volume of 16,423 shares, compared to its average volume of 69,681. The stock’s 50-day moving average price is $14.12 and its 200 day moving average price is $15.29. The firm has a market capitalization of $376.30 million, a P/E ratio of 17.75 and a beta of 0.12. Genie Energy has a one year low of $13.05 and a one year high of $28.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.91.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in Genie Energy during the 1st quarter worth $85,000. Jacobs Levy Equity Management Inc. purchased a new position in Genie Energy in the first quarter valued at about $320,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Genie Energy in the 1st quarter worth approximately $239,000. Goldman Sachs Group Inc. increased its position in shares of Genie Energy by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 146,364 shares of the oil and gas producer’s stock valued at $2,203,000 after buying an additional 19,671 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Genie Energy by 128.9% during the first quarter. Jane Street Group LLC now owns 45,372 shares of the oil and gas producer’s stock worth $683,000 after acquiring an additional 25,548 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

About Genie Energy

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.