Genie Energy (NYSE:GNE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Genie Energy (NYSE:GNE) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Several other research firms have also commented on GNE. Weiss Ratings reiterated a “hold (c)” rating on shares of Genie Energy in a research report on Monday, September 14th. Freedom Capital cut Genie Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Genie Energy Stock Performance

GNE stock opened at $16.66 on Friday. Genie Energy has a 52 week low of $12.69 and a 52 week high of $17.11. The company has a current ratio of 2.89, a quick ratio of 2.75 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $15.74 and a two-hundred day simple moving average of $14.67.

Genie Energy (NYSE:GNE) last posted its earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $100.40 million for the quarter, compared to the consensus estimate of $104.57 million. Genie Energy had a net margin of 5.05% and a return on equity of 12.80%.

Genie Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Friday, August 14th were given a $0.0750 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.8%. Genie Energy’s dividend payout ratio (DPR) is currently 37.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GNE. Kahn Brothers Group Inc. purchased a new stake in shares of Genie Energy in the second quarter valued at $2,474,655. Quantinno Capital Management LP boosted its stake in shares of Genie Energy by 92.9% during the 1st quarter. Quantinno Capital Management LP now owns 153,773 shares of the oil and gas producer’s stock worth $2,174,000 after purchasing an additional 74,046 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Genie Energy by 5.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock worth $3,001,000 after purchasing an additional 10,044 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Genie Energy during the 1st quarter worth about $365,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Genie Energy during the 2nd quarter worth about $175,000. Institutional investors own 49.15% of the company’s stock.

About Genie Energy

Genie Energy Ltd. is an energy services company that supplies electricity and natural gas to residential and small-business customers, primarily through retail energy operations in deregulated markets. Its retail businesses market energy plans and related services directly to consumers and businesses, offering alternatives to traditional utility supply arrangements.

The company’s activities also include renewable energy and energy-related services. Through its renewable energy operations, Genie Energy develops and markets solar power solutions, while its energy services businesses provide brokerage, consulting and other support designed to help customers manage their energy needs.

Genie Energy was formed in 2011 as a spin-off from IDT Corporation and is headquartered in Newark, New Jersey.