Genie Energy (NYSE:GNE) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Genie Energy Ltd. (NYSE:GNE)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.24 and traded as high as $15.57. Genie Energy shares last traded at $15.52, with a volume of 53,467 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GNE shares. Weiss Ratings raised Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Freedom Capital lowered shares of Genie Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Genie Energy Price Performance

The stock has a market capitalization of $410.70 million, a PE ratio of 19.26 and a beta of 0.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.75 and a current ratio of 2.89. The business’s 50-day moving average price is $14.58 and its 200 day moving average price is $14.25.

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.25 by $0.18. The firm had revenue of $100.40 million for the quarter, compared to the consensus estimate of $104.57 million. Genie Energy had a return on equity of 12.80% and a net margin of 5.05%.

Genie Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Friday, August 14th were paid a $0.075 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. Genie Energy’s payout ratio is currently 37.04%.

Institutional Trading of Genie Energy

Several large investors have recently modified their holdings of GNE. First Trust Advisors LP grew its stake in shares of Genie Energy by 1.6% during the 4th quarter. First Trust Advisors LP now owns 66,180 shares of the oil and gas producer’s stock valued at $912,000 after purchasing an additional 1,049 shares during the period. Bailard Inc. grew its position in shares of Genie Energy by 8.5% during the 4th quarter. Bailard Inc. now owns 19,139 shares of the oil and gas producer’s stock valued at $264,000 after acquiring an additional 1,500 shares during the period. Quarry LP purchased a new stake in shares of Genie Energy in the 3rd quarter worth $35,000. Barclays PLC raised its holdings in Genie Energy by 4.8% in the 4th quarter. Barclays PLC now owns 53,586 shares of the oil and gas producer’s stock worth $738,000 after purchasing an additional 2,464 shares during the period. Finally, California State Teachers Retirement System lifted its position in Genie Energy by 269.8% during the second quarter. California State Teachers Retirement System now owns 4,205 shares of the oil and gas producer’s stock valued at $61,000 after purchasing an additional 3,068 shares in the last quarter. 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.