Genie Energy Ltd. (NYSE:GNE) Plans $0.08 Quarterly Dividend

Genie Energy Ltd. (NYSE:GNE) declared a quarterly dividend on Thursday, May 14th. Investors of record on Friday, May 22nd will be paid a dividend of 0.075 per share by the oil and gas producer on Tuesday, June 2nd. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, May 22nd.

Genie Energy has decreased its dividend by an average of 0.0%per year over the last three years.

Genie Energy Trading Down 6.0%

Shares of GNE stock opened at $13.12 on Friday. Genie Energy has a 12-month low of $12.69 and a 12-month high of $28.47. The company has a market capitalization of $346.34 million, a P/E ratio of 16.40 and a beta of 0.20. The firm has a 50-day moving average price of $14.04 and a 200 day moving average price of $14.22. The company has a quick ratio of 2.29, a current ratio of 2.38 and a debt-to-equity ratio of 0.03.

Genie Energy (NYSE:GNE) last announced its earnings results on Thursday, May 14th. The oil and gas producer reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Genie Energy had a return on equity of 14.46% and a net margin of 4.78%.The company had revenue of $121.60 million during the quarter, compared to the consensus estimate of $123.83 million.

Hedge Funds Weigh In On Genie Energy

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Genie Energy by 1.1% in the third quarter. Vanguard Group Inc. now owns 1,208,916 shares of the oil and gas producer’s stock worth $18,073,000 after acquiring an additional 13,567 shares during the last quarter. J. Goldman & Co LP raised its stake in shares of Genie Energy by 325.4% during the fourth quarter. J. Goldman & Co LP now owns 805,317 shares of the oil and gas producer’s stock worth $11,097,000 after buying an additional 616,017 shares during the last quarter. State Street Corp raised its stake in shares of Genie Energy by 9.7% during the fourth quarter. State Street Corp now owns 523,427 shares of the oil and gas producer’s stock worth $7,213,000 after buying an additional 46,344 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Genie Energy during the third quarter worth approximately $4,546,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Genie Energy by 5.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 212,250 shares of the oil and gas producer’s stock worth $3,001,000 after buying an additional 10,044 shares during the last quarter. 49.15% of the stock is owned by institutional investors.

About Genie Energy

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.