Hsbc Holdings PLC Makes New $1.32 Million Investment in Genie Energy Ltd. $GNE

Hsbc Holdings PLC bought a new position in shares of Genie Energy Ltd. (NYSE:GNE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 49,787 shares of the oil and gas producer’s stock, valued at approximately $1,320,000. Hsbc Holdings PLC owned approximately 0.19% of Genie Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GNE. Ameritas Investment Partners Inc. raised its position in Genie Energy by 71.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,171 shares of the oil and gas producer’s stock worth $58,000 after purchasing an additional 906 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Genie Energy during the first quarter valued at $85,000. Police & Firemen s Retirement System of New Jersey boosted its holdings in Genie Energy by 29.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,691 shares of the oil and gas producer’s stock valued at $126,000 after acquiring an additional 1,057 shares during the last quarter. Ascent Group LLC acquired a new stake in Genie Energy in the first quarter worth about $158,000. Finally, AlphaQuest LLC acquired a new stake in Genie Energy in the second quarter worth about $170,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

Analyst Upgrades and Downgrades

GNE has been the topic of several recent research reports. Wall Street Zen raised shares of Genie Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genie Energy in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Genie Energy Price Performance

Genie Energy stock opened at $13.72 on Tuesday. Genie Energy Ltd. has a 52 week low of $13.05 and a 52 week high of $28.47. The company’s 50 day moving average price is $14.93 and its two-hundred day moving average price is $18.05. The stock has a market cap of $363.47 million, a P/E ratio of 17.15 and a beta of 0.08. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.04.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.29). The business had revenue of $138.32 million for the quarter, compared to analysts’ expectations of $130.79 million. Genie Energy had a net margin of 1.00% and a return on equity of 4.47%.

Genie Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Monday, November 10th were given a dividend of $0.075 per share. The ex-dividend date was Monday, November 10th. This represents a $0.30 annualized dividend and a yield of 2.2%. Genie Energy’s dividend payout ratio is presently 37.50%.

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.