StockNews.com upgraded shares of Genie Energy (NYSE:GNE – Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday.
Genie Energy Trading Up 0.7 %
NYSE:GNE opened at $14.43 on Thursday. The company has a market cap of $391.49 million, a P/E ratio of 28.86 and a beta of 0.20. Genie Energy has a twelve month low of $12.95 and a twelve month high of $30.90. The company’s 50-day moving average price is $15.16 and its 200-day moving average price is $18.45.
Genie Energy (NYSE:GNE – Get Free Report) last released its earnings results on Wednesday, May 8th. The oil and gas producer reported $0.33 earnings per share for the quarter. The business had revenue of $119.69 million for the quarter. Genie Energy had a net margin of 2.99% and a return on equity of 24.06%.
Genie Energy Announces Dividend
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Significant Wealth Partners LLC acquired a new stake in shares of Genie Energy during the 4th quarter worth about $4,812,000. Federated Hermes Inc. lifted its holdings in Genie Energy by 63,668.2% during the 4th quarter. Federated Hermes Inc. now owns 126,261 shares of the oil and gas producer’s stock worth $3,552,000 after buying an additional 126,063 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Genie Energy in the fourth quarter worth $357,000. Janney Montgomery Scott LLC raised its stake in shares of Genie Energy by 17.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 59,053 shares of the oil and gas producer’s stock valued at $1,661,000 after acquiring an additional 8,882 shares in the last quarter. Finally, Swiss National Bank acquired a new stake in shares of Genie Energy in the fourth quarter valued at $1,077,000. Institutional investors and hedge funds own 49.15% of the company’s stock.
About Genie Energy
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.
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