Kahn Brothers Group Inc. Takes $2.20 Million Position in Genie Energy Ltd. $GNE

Kahn Brothers Group Inc. bought a new stake in shares of Genie Energy Ltd. (NYSE:GNE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 151,941 shares of the oil and gas producer’s stock, valued at approximately $2,196,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GNE. Vanguard Group Inc. raised its position in shares of Genie Energy by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,208,916 shares of the oil and gas producer’s stock valued at $18,073,000 after acquiring an additional 13,567 shares in the last quarter. J. Goldman & Co LP lifted its stake in Genie Energy by 325.4% during the fourth quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer’s stock worth $11,097,000 after purchasing an additional 616,017 shares during the last quarter. State Street Corp boosted its holdings in Genie Energy by 9.7% in the fourth quarter. State Street Corp now owns 523,427 shares of the oil and gas producer’s stock worth $7,213,000 after purchasing an additional 46,344 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Genie Energy in the third quarter worth $4,546,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Genie Energy by 5.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock valued at $3,001,000 after purchasing an additional 10,044 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Trading Down 0.7%

Shares of NYSE GNE opened at $14.90 on Friday. The company has a market cap of $392.30 million, a price-to-earnings ratio of 18.40 and a beta of 0.20. Genie Energy Ltd. has a 12-month low of $12.69 and a 12-month high of $16.28. The company has a current ratio of 2.89, a quick ratio of 2.75 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $14.43 and its 200 day simple moving average is $14.20.

Genie Energy (NYSE:GNE) last released its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The business had revenue of $100.40 million during the quarter, compared to analyst estimates 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 company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Friday, August 14th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.0%. Genie Energy’s payout ratio is 37.04%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Genie Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Freedom Capital lowered shares of Genie Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

About Genie Energy

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.