Genie Energy (NYSE:GNE) Stock Crosses Above 50-Day Moving Average – Here’s Why

Genie Energy Ltd. (NYSE:GNE) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.08 and traded as high as $14.65. Genie Energy shares last traded at $14.2950, with a volume of 77,775 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen lowered Genie Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Freedom Capital raised Genie Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings raised Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Genie Energy Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.44 and a current ratio of 2.54. The firm has a market cap of $377.39 million, a P/E ratio of 29.17 and a beta of 0.19. The business’s 50-day simple moving average is $14.08 and its 200 day simple moving average is $14.11.

Genie Energy (NYSE:GNE) last released its quarterly earnings results on Thursday, May 14th. The oil and gas producer reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. The firm had revenue of $142.31 million for the quarter, compared to analysts’ expectations of $114.23 million. Genie Energy had a return on equity of 9.72% and a net margin of 3.22%.

Genie Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Friday, May 22nd were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, May 22nd. Genie Energy’s dividend payout ratio is 61.22%.

Institutional Trading of Genie Energy

Several large investors have recently added to or reduced their stakes in GNE. Quarry LP purchased a new stake in Genie Energy during the third quarter valued at approximately $35,000. State of Alaska Department of Revenue boosted its stake in shares of Genie Energy by 236.5% during the 4th quarter. State of Alaska Department of Revenue now owns 2,830 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 1,989 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Genie Energy during the 1st quarter worth $85,000. New York State Common Retirement Fund grew its position in shares of Genie Energy by 98.3% during the 2nd quarter. New York State Common Retirement Fund now owns 7,667 shares of the oil and gas producer’s stock valued at $206,000 after acquiring an additional 3,800 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Genie Energy during the 2nd quarter valued at $214,000. 49.15% of the stock is currently owned by institutional investors.

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.