Inspire Investing LLC Invests $397,000 in Genie Energy Ltd. $GNE

Inspire Investing LLC purchased a new position in Genie Energy Ltd. (NYSE:GNE) during the second quarter, Holdings Channel reports. The institutional investor purchased 14,765 shares of the oil and gas producer’s stock, valued at approximately $397,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in shares of Genie Energy in the 1st quarter worth approximately $85,000. Ascent Group LLC bought a new stake in shares of Genie Energy in the 1st quarter valued at $158,000. Significant Wealth Partners LLC increased its stake in shares of Genie Energy by 20.6% in the 1st quarter. Significant Wealth Partners LLC now owns 15,668 shares of the oil and gas producer’s stock valued at $236,000 after acquiring an additional 2,675 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Genie Energy in the 1st quarter valued at $239,000. Finally, PDT Partners LLC increased its stake in shares of Genie Energy by 68.4% in the 1st quarter. PDT Partners LLC now owns 18,789 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 7,632 shares in the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Stock Performance

Shares of GNE stock opened at $15.53 on Tuesday. The firm has a market capitalization of $414.81 million, a PE ratio of 110.93 and a beta of 0.05. The firm has a fifty day simple moving average of $15.56 and a two-hundred day simple moving average of $18.32. The company has a current ratio of 1.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04. Genie Energy Ltd. has a 12 month low of $13.05 and a 12 month high of $28.47.

Genie Energy (NYSE:GNE) last announced its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.11 EPS for the quarter. Genie Energy had a net margin of 1.82% and a return on equity of 6.40%. The business had revenue of $105.25 million during the quarter.

Genie Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Monday, August 11th were paid a $0.075 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.30 annualized dividend and a dividend yield of 1.9%. Genie Energy’s dividend payout ratio is presently 214.29%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GNE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Genie Energy in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 6th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Genie Energy 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.