Americana Partners LLC Acquires Shares of 27,920 Genie Energy Ltd. (NYSE:GNE)

Americana Partners LLC acquired a new stake in shares of Genie Energy Ltd. (NYSE:GNE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 27,920 shares of the oil and gas producer’s stock, valued at approximately $408,000. Americana Partners LLC owned approximately 0.10% of Genie Energy as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GNE. Russell Investments Group Ltd. raised its position in shares of Genie Energy by 1,299.0% in the fourth quarter. Russell Investments Group Ltd. now owns 91,872 shares of the oil and gas producer’s stock valued at $2,584,000 after buying an additional 85,305 shares during the last quarter. Swiss National Bank acquired a new stake in shares of Genie Energy in the fourth quarter valued at about $1,077,000. Principal Financial Group Inc. acquired a new stake in shares of Genie Energy in the first quarter valued at about $444,000. Allspring Global Investments Holdings LLC raised its position in shares of Genie Energy by 34.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 70,987 shares of the oil and gas producer’s stock valued at $1,070,000 after buying an additional 18,298 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Genie Energy by 8.6% in the first quarter. Hillsdale Investment Management Inc. now owns 210,641 shares of the oil and gas producer’s stock valued at $3,176,000 after buying an additional 16,700 shares during the last quarter. 49.15% of the stock is owned by hedge funds and other institutional investors.

Genie Energy Stock Up 0.8 %

Shares of NYSE GNE opened at $16.74 on Friday. Genie Energy Ltd. has a 52 week low of $14.00 and a 52 week high of $30.90. The stock has a market capitalization of $450.14 million, a price-to-earnings ratio of 33.48 and a beta of 0.15. The firm has a 50-day simple moving average of $15.95 and a 200-day simple moving average of $15.94.

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

Genie Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 14th were given a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.30 annualized dividend and a yield of 1.79%. Genie Energy’s payout ratio is 60.00%.

Wall Street Analysts Forecast Growth

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

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.