Genie Energy (NYSE:GNE) Upgraded to “Strong-Buy” at Freedom Capital

Freedom Capital upgraded shares of Genie Energy (NYSE:GNE) from a hold rating to a strong-buy rating in a research report report published on Friday morning,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Weiss Ratings lowered shares of Genie Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. Wall Street Zen lowered shares of Genie Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Genie Energy Stock Up 2.3%

Genie Energy stock opened at $13.35 on Friday. The firm has a market cap of $352.45 million, a price-to-earnings ratio of 16.69 and a beta of 0.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.38 and a quick ratio of 2.29. Genie Energy has a fifty-two week low of $12.69 and a fifty-two week high of $28.47. The firm has a fifty day moving average price of $14.02 and a two-hundred day moving average price of $14.21.

Genie Energy (NYSE:GNE) last released 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). The firm had revenue of $142.31 million for the quarter, compared to analyst estimates of $123.83 million. Genie Energy had a return on equity of 10.08% and a net margin of 3.18%.

Genie Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Friday, May 22nd will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.2%. Genie Energy’s dividend payout ratio is currently 37.50%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Genie Energy during the third quarter valued at about $35,000. Federated Hermes Inc. raised its position in shares of Genie Energy by 168.2% during the third quarter. Federated Hermes Inc. now owns 2,406 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 1,509 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Genie Energy by 236.5% during the fourth quarter. State of Alaska Department of Revenue now owns 2,830 shares of the oil and gas producer’s stock valued at $38,000 after buying an additional 1,989 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Genie Energy during the first quarter valued at about $85,000. Finally, Virtus Advisers LLC acquired a new position in shares of Genie Energy during the third quarter valued at about $124,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Company Profile

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.