Genie Energy Ltd. (GNE) to Issue Quarterly Dividend of $0.08 on August 21st

Posted by Defense World Staff on Aug 9th, 2023

Genie Energy Ltd. (NYSE:GNE – Get Free Report) declared a quarterly dividend on Monday, August 7th, Zacks reports. Shareholders of record on Monday, August 14th will be paid a dividend of 0.075 per share by the oil and gas producer on Monday, August 21st. This represents a $0.30 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, August 11th.

Genie Energy Stock Performance

Genie Energy stock opened at $14.88 on Wednesday. The firm’s fifty day moving average price is $13.81 and its 200-day moving average price is $13.48. Genie Energy has a fifty-two week low of $8.16 and a fifty-two week high of $16.86. The stock has a market cap of $387.03 million, a P/E ratio of 6.15 and a beta of 0.38.

Genie Energy (NYSE:GNE – Get Free Report) last announced its quarterly earnings data on Monday, May 8th. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter. Genie Energy had a net margin of 17.99% and a return on equity of 35.68%. The company had revenue of $105.28 million during the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Genie Energy from a “hold” rating to a “buy” rating in a research report on Tuesday.

Check Out Our Latest Stock Analysis on GNE

Hedge Funds Weigh In On Genie Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors boosted its position in shares of Genie Energy by 168.7% during the second quarter. Captrust Financial Advisors now owns 3,348 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 2,102 shares in the last quarter. UBS Group AG lifted its position in Genie Energy by 42.4% during the first quarter. UBS Group AG now owns 3,417 shares of the oil and gas producer’s stock valued at $47,000 after buying an additional 1,017 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Genie Energy during the 2nd quarter valued at $96,000. Barclays PLC grew its position in shares of Genie Energy by 766.0% in the 4th quarter. Barclays PLC now owns 10,236 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 9,054 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Genie Energy in the 4th quarter worth about $113,000. Institutional investors own 25.92% of the company’s stock.

About Genie Energy

(Get Free Report)

Genie Energy Ltd., through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, Genie Retail Energy 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 advisory and brokerage services; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.