Genie Energy Ltd. Announces Quarterly Dividend of $0.08 (NYSE:GNE)

Genie Energy Ltd. (NYSE:GNE) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.075 per share by the oil and gas producer on Wednesday, November 20th. This represents a $0.30 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, November 12th.

Genie Energy has decreased its dividend by an average of 3.1% annually over the last three years.

Genie Energy Trading Up 0.8 %

Shares of NYSE GNE opened at $16.96 on Friday. The firm’s 50-day moving average price is $16.44 and its 200-day moving average price is $15.88. The firm has a market capitalization of $456.05 million, a P/E ratio of 58.48 and a beta of 0.09. Genie Energy has a 1-year low of $14.00 and a 1-year high of $30.90.

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 return on equity of 23.30% and a net margin of 1.75%. The firm had revenue of $90.70 million during the quarter.

Insider Activity

In related news, Director James A. Courter sold 3,675 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total transaction of $63,173.25. Following the completion of the sale, the director now owns 304,411 shares in the company, valued at approximately $5,232,825.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Avi Goldin sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the transaction, the chief financial officer now directly owns 134,999 shares of the company’s stock, valued at $2,320,632.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James A. Courter sold 3,675 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.19, for a total value of $63,173.25. Following the sale, the director now directly owns 304,411 shares of the company’s stock, valued at $5,232,825.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Genie Energy from a “hold” rating to a “buy” rating in a research report 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.