Genie Energy (NYSE:GNE) Downgraded by Wall Street Zen to “Buy”

by · The Markets Daily

Wall Street Zen downgraded shares of Genie Energy (NYSE:GNE – Free Report) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Genie Energy in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

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Genie Energy Stock Down 0.9%

Shares of GNE opened at $14.08 on Friday. The company’s 50-day moving average price is $14.85 and its 200 day moving average price is $17.89. Genie Energy has a 12-month low of $13.05 and a 12-month high of $28.47. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04. The firm has a market cap of $373.04 million, a P/E ratio of 17.60 and a beta of 0.08.

Genie Energy (NYSE:GNE – Get Free Report) last announced its quarterly 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). The company had revenue of $138.32 million for the quarter, compared to analyst estimates of $130.79 million. Genie Energy had a net margin of 1.00% and a return on equity of 4.47%.

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, November 10th were issued a dividend of $0.075 per share. The ex-dividend date was Monday, November 10th. This represents a $0.30 dividend on an annualized basis and a yield of 2.1%. Genie Energy’s dividend payout ratio is 37.50%.

Hedge Funds Weigh In On Genie Energy

Several institutional investors have recently modified their holdings of the business. Nuveen LLC purchased a new stake in shares of Genie Energy during the first quarter worth approximately $1,195,000. Geode Capital Management LLC lifted its stake in Genie Energy by 22.5% in the second quarter. Geode Capital Management LLC now owns 559,916 shares of the oil and gas producer’s stock worth $15,054,000 after acquiring an additional 102,702 shares during the last quarter. AlphaQuest LLC acquired a new position in Genie Energy during the 2nd quarter worth approximately $170,000. Strs Ohio acquired a new position in Genie Energy during the 1st quarter worth approximately $500,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Genie Energy by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 41,746 shares of the oil and gas producer’s stock valued at $628,000 after purchasing an additional 2,014 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Company Profile

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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.

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