Genie Energy Ltd. (GNE) Announces Quarterly Dividend of $0.08
Genie Energy Ltd. (NYSE:GNE) announced a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Shareholders of record on Monday, November 13th will be given a dividend of 0.075 per share by the oil and gas producer on Friday, November 17th. This represents a $0.30 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend is Friday, November 10th.
Genie Energy (NYSE:GNE) traded up $0.26 during midday trading on Friday, reaching $5.58. 62,675 shares of the company’s stock traded hands, compared to its average volume of 38,640.
Genie Energy (NYSE:GNE) last issued its earnings results on Thursday, November 2nd. The oil and gas producer reported $0.02 earnings per share for the quarter. Genie Energy had a negative return on equity of 15.39% and a negative net margin of 3.62%. The firm had revenue of $69.47 million for the quarter.
In other news, CFO Avi Goldin sold 8,500 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $6.21, for a total transaction of $52,785.00. Following the transaction, the chief financial officer now directly owns 24,765 shares of the company’s stock, valued at $153,790.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James A. Courter sold 5,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $5.62, for a total value of $28,100.00. Following the transaction, the director now directly owns 291,983 shares in the company, valued at $1,640,944.46. The disclosure for this sale can be found here. Insiders have sold 38,500 shares of company stock worth $237,885 over the last three months. Corporate insiders own 31.00% of the company’s stock.
A hedge fund recently raised its stake in Genie Energy stock. State Street Corp boosted its position in shares of Genie Energy Ltd. (NYSE:GNE) by 21.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,427 shares of the oil and gas producer’s stock after buying an additional 31,379 shares during the quarter. State Street Corp owned 0.78% of Genie Energy worth $1,375,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 20.76% of the company’s stock.
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Separately, TheStreet lowered Genie Energy from a “c-” rating to a “d+” rating in a report on Thursday, August 3rd.
About Genie Energy
Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc and Residents Energy, Inc, and energy brokerage and marketing services.
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