Genie Energy (NYSE:GNE) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of Genie Energy Ltd. (NYSE:GNE) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $14.10 and traded as high as $14.60. Genie Energy shares last traded at $14.2850, with a volume of 65,655 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Freedom Capital upgraded Genie Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen cut Genie Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings lowered Genie Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Genie Energy Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.54 and a quick ratio of 2.44. The business has a 50-day simple moving average of $13.96 and a 200 day simple moving average of $14.10. The firm has a market cap of $377.12 million, a PE ratio of 29.15 and a beta of 0.19.

Genie Energy (NYSE:GNE) last released its earnings results on Thursday, May 14th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The firm had revenue of $142.31 million during the quarter, compared to analysts’ expectations of $114.23 million. Genie Energy had a return on equity of 9.72% and a net margin of 3.22%.

Genie Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 22nd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 22nd. Genie Energy’s dividend payout ratio (DPR) is presently 61.22%.

Institutional Investors Weigh In On Genie Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Genie Energy by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,208,916 shares of the oil and gas producer’s stock worth $18,073,000 after acquiring an additional 13,567 shares during the last quarter. J. Goldman & Co LP increased its holdings in Genie Energy by 325.4% during the 4th quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer’s stock worth $11,097,000 after purchasing an additional 616,017 shares during the period. State Street Corp increased its holdings in Genie Energy by 9.7% during the 4th quarter. State Street Corp now owns 523,427 shares of the oil and gas producer’s stock worth $7,213,000 after purchasing an additional 46,344 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Genie Energy during the 3rd quarter worth $4,546,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Genie Energy by 5.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock worth $3,001,000 after purchasing an additional 10,044 shares during the period. 49.15% of the stock is owned by institutional investors.

About Genie Energy

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.