Genie Energy (NYSE:GNE) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Genie Energy (NYSE:GNE) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

Genie Energy Price Performance

GNE stock opened at $14.28 on Wednesday. The company has a market capitalization of $388.28 million, a PE ratio of 101.97 and a beta of 0.02. The company’s fifty day moving average price is $14.59 and its 200-day moving average price is $15.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56. Genie Energy has a one year low of $13.05 and a one year high of $17.93.

Genie Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Tuesday, February 18th. Genie Energy’s payout ratio is 214.29%.

Institutional Investors Weigh In On Genie Energy

A number of hedge funds have recently bought and sold shares of GNE. GSA Capital Partners LLP raised its stake in Genie Energy by 269.5% during the third quarter. GSA Capital Partners LLP now owns 61,871 shares of the oil and gas producer’s stock valued at $1,005,000 after purchasing an additional 45,125 shares in the last quarter. Quest Partners LLC purchased a new stake in Genie Energy during the third quarter valued at $433,000. Charles Schwab Investment Management Inc. raised its stake in Genie Energy by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 41,960 shares of the oil and gas producer’s stock valued at $682,000 after purchasing an additional 1,891 shares in the last quarter. Cerity Partners LLC raised its stake in Genie Energy by 118.5% during the third quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer’s stock valued at $1,533,000 after purchasing an additional 51,160 shares in the last quarter. Finally, Martingale Asset Management L P increased its position in Genie Energy by 16.4% during the third quarter. Martingale Asset Management L P now owns 36,791 shares of the oil and gas producer’s stock valued at $598,000 after acquiring an additional 5,197 shares during the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.

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.