Walleye Capital LLC Reduces Position in Genie Energy Ltd. (NYSE:GNE)

Walleye Capital LLC trimmed its stake in Genie Energy Ltd. (NYSE:GNE) by 55.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,446 shares of the oil and gas producer’s stock after selling 13,018 shares during the period. Walleye Capital LLC’s holdings in Genie Energy were worth $163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new stake in Genie Energy during the fourth quarter valued at about $37,000. SG Americas Securities LLC bought a new position in shares of Genie Energy during the 4th quarter valued at approximately $107,000. Wells Fargo & Company MN increased its holdings in Genie Energy by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock worth $120,000 after acquiring an additional 1,699 shares in the last quarter. Pictet Asset Management Holding SA bought a new stake in Genie Energy during the 4th quarter worth approximately $209,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Genie Energy during the fourth quarter valued at approximately $256,000. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

Genie Energy Price Performance

NYSE:GNE opened at $14.92 on Friday. The business’s 50-day simple moving average is $14.79 and its two-hundred day simple moving average is $15.08. Genie Energy Ltd. has a 52 week low of $13.05 and a 52 week high of $17.93. The stock has a market cap of $403.10 million, a PE ratio of 106.61 and a beta of 0.04. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01.

Genie Energy Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Tuesday, February 18th. Genie Energy’s dividend payout ratio (DPR) is presently 214.29%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th.

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.