Point72 DIFC Ltd Acquires 2,248 Shares of Genie Energy Ltd. (NYSE:GNE)

Point72 DIFC Ltd boosted its holdings in Genie Energy Ltd. (NYSE:GNE) by 11,831.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,267 shares of the oil and gas producer’s stock after acquiring an additional 2,248 shares during the quarter. Point72 DIFC Ltd’s holdings in Genie Energy were worth $33,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in shares of Genie Energy by 41.9% in the first quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock worth $161,000 after purchasing an additional 3,144 shares during the last quarter. BOKF NA bought a new stake in Genie Energy during the second quarter worth $165,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Genie Energy in the 2nd quarter valued at $169,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Genie Energy during the 2nd quarter valued at $179,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Genie Energy by 8.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock valued at $202,000 after acquiring an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Genie Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

Insider Buying and Selling

In related news, CFO Avi Goldin sold 2,300 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total transaction of $39,537.00. Following the completion of the sale, the chief financial officer now owns 134,999 shares in the company, valued at $2,320,632.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director James A. Courter sold 3,675 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total transaction of $63,173.25. Following the transaction, the director now owns 304,411 shares of the company’s stock, valued at approximately $5,232,825.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Avi Goldin sold 2,300 shares of Genie Energy stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the sale, the chief financial officer now directly owns 134,999 shares of the company’s stock, valued at approximately $2,320,632.81. The disclosure for this sale can be found here. 16.50% of the stock is owned by insiders.

Genie Energy Stock Performance

NYSE:GNE opened at $16.03 on Friday. Genie Energy Ltd. has a 52 week low of $14.00 and a 52 week high of $30.90. The firm has a 50-day moving average price of $16.45 and a two-hundred day moving average price of $15.76. The firm has a market cap of $434.91 million, a price-to-earnings ratio of 32.06 and a beta of 0.09.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.37 EPS for the quarter. Genie Energy had a return on equity of 23.30% and a net margin of 1.75%. The company had revenue of $90.70 million during the quarter.

Genie Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, August 14th. Genie Energy’s payout ratio is 60.00%.

Genie Energy 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.