Genie Energy Ltd. (NYSE:GNE) Director Sells $63,173.25 in Stock

Genie Energy Ltd. (NYSE:GNE) Director James A. Courter sold 3,675 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $17.19, for a total value of $63,173.25. Following the transaction, the director now owns 304,411 shares of the company’s stock, valued at approximately $5,232,825.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Genie Energy Stock Performance

GNE stock opened at $16.99 on Thursday. The firm has a fifty day moving average price of $16.47 and a 200 day moving average price of $15.83. Genie Energy Ltd. has a fifty-two week low of $14.00 and a fifty-two week high of $30.90. The firm has a market cap of $460.96 million, a PE ratio of 33.98 and a beta of 0.09.

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.37 EPS for the quarter. Genie Energy had a net margin of 1.75% and a return on equity of 23.30%. The business had revenue of $90.70 million during the quarter.

Genie Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.30 annualized dividend and a yield of 1.77%. Genie Energy’s payout ratio is currently 60.00%.

Hedge Funds Weigh In On Genie Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd raised its holdings in Genie Energy by 11,831.6% during the 2nd quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 2,248 shares during the period. SG Americas Securities LLC increased its position in Genie Energy by 41.9% during the first quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after acquiring an additional 3,144 shares during the last quarter. BOKF NA bought a new position in Genie Energy during the second quarter valued at $165,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Genie Energy in the second quarter valued at $169,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Genie Energy in the 2nd quarter worth about $179,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Genie Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

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.