Genie Energy Ltd (NYSE:GNE)’s stock price traded up 5.4% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $7.33 and last traded at $7.20, 289,302 shares changed hands during trading. An increase of 31% from the average session volume of 221,239 shares. The stock had previously closed at $6.83.
The oil and gas producer reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Genie Energy had a return on equity of 24.53% and a net margin of 6.08%.
The business also recently declared a dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a $0.075 dividend. The ex-dividend date is Friday, November 15th. Genie Energy’s dividend payout ratio (DPR) is 33.33%.
GNE has been the topic of a number of research reports. ValuEngine raised Genie Energy from a “sell” rating to a “hold” rating in a research note on Friday. Noble Financial restated a “hold” rating on shares of Genie Energy in a report on Wednesday, August 7th. Zacks Investment Research upgraded Genie Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, TheStreet downgraded Genie Energy from a “b-” rating to a “c+” rating in a report on Thursday, August 15th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Genie Energy by 1.5% during the second quarter. Renaissance Technologies LLC now owns 536,397 shares of the oil and gas producer’s stock valued at $5,713,000 after acquiring an additional 7,900 shares during the period. Chicago Equity Partners LLC acquired a new position in Genie Energy during the 2nd quarter worth $242,000. BlackRock Inc. lifted its stake in shares of Genie Energy by 163.0% in the 2nd quarter. BlackRock Inc. now owns 1,105,173 shares of the oil and gas producer’s stock valued at $11,769,000 after purchasing an additional 684,973 shares during the period. Stone Ridge Asset Management LLC acquired a new position in shares of Genie Energy in the 2nd quarter valued at $304,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Genie Energy by 116.9% in the 2nd quarter. Acadian Asset Management LLC now owns 127,782 shares of the oil and gas producer’s stock valued at $1,361,000 after purchasing an additional 68,866 shares during the period. 27.98% of the stock is owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.80. The stock’s 50-day moving average is $7.44 and its 200 day moving average is $8.78. The firm has a market cap of $191.50 million, a P/E ratio of 8.00 and a beta of 1.38.
About Genie Energy (NYSE:GNE)
Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.
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