Genie Energy (NYSE:GNE) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Genie Energy (NYSE:GNE) posted its earnings results on Friday. The oil and gas producer reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07, FiscalAI reports. Genie Energy had a return on equity of 4.47% and a net margin of 1.00%.The firm had revenue of $121.59 million during the quarter, compared to analysts’ expectations of $114.23 million.

Genie Energy Stock Performance

Shares of NYSE:GNE traded up $0.26 on Friday, reaching $14.23. The company’s stock had a trading volume of 74,551 shares, compared to its average volume of 61,083. The stock’s 50-day moving average is $14.08 and its two-hundred day moving average is $14.32. Genie Energy has a 52-week low of $13.19 and a 52-week high of $28.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.91 and a quick ratio of 1.74. The stock has a market capitalization of $377.02 million, a P/E ratio of 17.79 and a beta of 0.19.

Genie Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Wednesday, February 18th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 18th. Genie Energy’s dividend payout ratio is presently 37.50%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in shares of Genie Energy by 1.6% during the fourth quarter. First Trust Advisors LP now owns 66,180 shares of the oil and gas producer’s stock valued at $912,000 after acquiring an additional 1,049 shares during the last quarter. Quarry LP acquired a new position in Genie Energy during the 3rd quarter worth approximately $35,000. Barclays PLC grew its holdings in Genie Energy by 4.8% during the 4th quarter. Barclays PLC now owns 53,586 shares of the oil and gas producer’s stock valued at $738,000 after purchasing an additional 2,464 shares in the last quarter. Invesco Ltd. lifted its holdings in Genie Energy by 12.9% in the 4th quarter. Invesco Ltd. now owns 32,693 shares of the oil and gas producer’s stock worth $451,000 after buying an additional 3,727 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Genie Energy by 98.3% in the 2nd quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer’s stock valued at $206,000 after purchasing an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Genie Energy in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.