StockNews.com Upgrades Genie Energy (NYSE:GNE) to “Buy”

Genie Energy (NYSE:GNE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Genie Energy Trading Up 2.9 %

NYSE:GNE opened at $16.70 on Wednesday. The company has a market cap of $453.07 million, a P/E ratio of 33.38 and a beta of 0.15. The company’s 50-day moving average price is $15.26 and its 200-day moving average price is $16.71. Genie Energy has a twelve month low of $13.07 and a twelve month high of $30.90.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $0.33 earnings per share (EPS) for the quarter. Genie Energy had a net margin of 2.99% and a return on equity of 24.06%. The company had revenue of $119.69 million for the quarter.

Institutional Investors Weigh In On Genie Energy

Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in Genie Energy by 147.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,717 shares of the oil and gas producer’s stock valued at $76,000 after acquiring an additional 1,620 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Genie Energy by 41.9% in the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock worth $161,000 after purchasing an additional 3,144 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Genie Energy during the fourth quarter valued at approximately $164,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Genie Energy during the 2nd quarter valued at $179,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Genie Energy by 8.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock worth $202,000 after purchasing an additional 1,002 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Genie Energy Company Profile

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.