Genie Energy (NYSE:GNE) Upgraded at StockNews.com

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

Genie Energy Price Performance

GNE stock opened at $14.12 on Wednesday. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $383.93 million, a PE ratio of 100.83 and a beta of 0.02. Genie Energy has a 12-month low of $13.05 and a 12-month high of $17.93. The business’s fifty day moving average price is $14.54 and its 200 day moving average price is $15.47.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.30 annualized dividend and a dividend yield of 2.13%. Genie Energy’s dividend payout ratio is presently 214.29%.

Institutional Investors Weigh In On Genie Energy

Large investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new stake in Genie Energy during the 4th quarter worth about $37,000. SG Americas Securities LLC purchased a new stake in Genie Energy during the 4th quarter worth about $107,000. Wells Fargo & Company MN increased its holdings in Genie Energy by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 1,699 shares during the period. PDT Partners LLC purchased a new stake in Genie Energy during the 4th quarter worth about $174,000. Finally, Pictet Asset Management Holding SA purchased a new stake in Genie Energy during the 4th quarter worth about $209,000. 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.