Genie Energy Ltd. (GNE) to Distribute Quarterly Dividend of $0.07 on August 24th

Genie Energy Ltd. (NYSE:GNE) announced a quarterly dividend on Monday, August 3rd. Stockholders of record on Friday, August 14th will be given a dividend of 0.075 per share by the oil and gas producer on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 14th.

Genie Energy has decreased its dividend by an average of 0.0%per year over the last three years.

Genie Energy Price Performance

Shares of NYSE:GNE opened at $14.56 on Wednesday. The firm’s 50 day moving average price is $14.21 and its 200-day moving average price is $14.12. Genie Energy has a twelve month low of $12.69 and a twelve month high of $16.54. The company has a quick ratio of 2.44, a current ratio of 2.54 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $384.38 million, a PE ratio of 29.71 and a beta of 0.20.

Genie Energy (NYSE:GNE) last announced its earnings results on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.18. Genie Energy had a net margin of 4.95% and a return on equity of 13.00%. The company had revenue of $100.40 million during the quarter, compared to analyst estimates of $104.57 million.

Hedge Funds Weigh In On Genie Energy

Large investors have recently made changes to their positions in the business. J. Goldman & Co LP increased its stake in Genie Energy by 325.4% during the fourth quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer’s stock worth $11,097,000 after acquiring an additional 616,017 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Genie Energy in the 3rd quarter valued at approximately $4,546,000. JPMorgan Chase & Co. boosted its holdings in shares of Genie Energy by 362.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 145,845 shares of the oil and gas producer’s stock worth $3,920,000 after purchasing an additional 114,283 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Genie Energy by 1,040.2% in the 3rd quarter. Victory Capital Management Inc. now owns 104,538 shares of the oil and gas producer’s stock worth $1,563,000 after purchasing an additional 95,370 shares during the period. Finally, Quantinno Capital Management LP increased its position 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 valued at $2,174,000 after purchasing an additional 74,046 shares during the last quarter. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

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.