Bank of New York Mellon Corp Purchases 32,630 Shares of Genie Energy Ltd. (NYSE:GNE)

Bank of New York Mellon Corp increased its stake in Genie Energy Ltd. (NYSE:GNE) by 24.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,695 shares of the oil and gas producer’s stock after buying an additional 32,630 shares during the period. Bank of New York Mellon Corp’s holdings in Genie Energy were worth $2,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Genie Energy during the fourth quarter valued at approximately $37,000. SG Americas Securities LLC bought a new position in shares of Genie Energy in the fourth quarter worth about $107,000. Barclays PLC raised its position in shares of Genie Energy by 234.6% during the third quarter. Barclays PLC now owns 20,617 shares of the oil and gas producer’s stock valued at $334,000 after buying an additional 14,455 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Genie Energy in the third quarter worth about $433,000. Finally, Martingale Asset Management L P boosted its position in shares of Genie Energy by 16.4% during the 3rd quarter. Martingale Asset Management L P now owns 36,791 shares of the oil and gas producer’s stock valued at $598,000 after acquiring an additional 5,197 shares during the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Genie Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

Genie Energy Stock Performance

Shares of Genie Energy stock opened at $14.78 on Friday. The company has a market capitalization of $401.88 million, a PE ratio of 105.54 and a beta of 0.02. Genie Energy Ltd. has a 52 week low of $13.05 and a 52 week high of $17.93. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $14.47 and its two-hundred day moving average is $15.40.

Genie Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a $0.075 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.30 annualized dividend and a dividend yield of 2.03%. Genie Energy’s payout ratio is presently 214.29%.

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.