Genie Energy (NYSE:GNE) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Genie Energy Ltd. (NYSE:GNE) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.63 and traded as low as $13.89. Genie Energy shares last traded at $14.1320, with a volume of 78,952 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Genie Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Genie Energy in a research note on Thursday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Genie Energy Stock Performance

The business’s fifty day moving average price is $14.19 and its 200-day moving average price is $15.63. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.91 and a quick ratio of 1.74. The stock has a market capitalization of $374.50 million, a PE ratio of 17.67 and a beta of 0.12.

Genie Energy (NYSE:GNE) last posted its earnings results on Monday, November 3rd. The oil and gas producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). Genie Energy had a return on equity of 4.47% and a net margin of 1.00%.The firm had revenue of $138.32 million for the quarter, compared to the consensus estimate of $130.79 million.

Genie Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Monday, November 10th were issued a $0.075 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. Genie Energy’s dividend payout ratio is presently 37.50%.

Institutional Investors Weigh In On Genie Energy

Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its position in Genie Energy by 71.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,171 shares of the oil and gas producer’s stock worth $58,000 after buying an additional 906 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Genie Energy by 29.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,691 shares of the oil and gas producer’s stock valued at $126,000 after acquiring an additional 1,057 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Genie Energy by 168.2% during the 3rd quarter. Federated Hermes Inc. now owns 2,406 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 1,509 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Genie Energy by 236.5% during the fourth quarter. State of Alaska Department of Revenue now owns 2,830 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 1,989 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Genie Energy during the third quarter worth about $35,000. Institutional investors own 49.15% of the company’s stock.

Genie Energy Company Profile

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.