Advisors Asset Management Inc. lifted its position in Genie Energy Ltd (NYSE:GNE) by 24.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,848 shares of the oil and gas producer’s stock after acquiring an additional 20,931 shares during the quarter. Advisors Asset Management Inc. owned 0.42% of Genie Energy worth $520,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Genie Energy by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 921,592 shares of the oil and gas producer’s stock valued at $4,571,000 after acquiring an additional 54,354 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Genie Energy in the second quarter valued at about $1,557,000. Paloma Partners Management Co bought a new stake in shares of Genie Energy in the second quarter valued at about $326,000. LMR Partners LLP bought a new stake in shares of Genie Energy in the second quarter valued at about $210,000. Finally, Spark Investment Management LLC raised its holdings in shares of Genie Energy by 101.9% in the second quarter. Spark Investment Management LLC now owns 41,600 shares of the oil and gas producer’s stock valued at $206,000 after acquiring an additional 21,000 shares in the last quarter. Hedge funds and other institutional investors own 16.45% of the company’s stock.
GNE stock opened at $6.24 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 1.96 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $146.00 million, a P/E ratio of 10.82 and a beta of 1.47. Genie Energy Ltd has a 1-year low of $3.82 and a 1-year high of $6.36.
Genie Energy (NYSE:GNE) last released its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $0.21 earnings per share for the quarter. The firm had revenue of $71.84 million during the quarter. Genie Energy had a return on equity of 24.11% and a net margin of 1.67%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Monday, November 19th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $0.30 annualized dividend and a dividend yield of 4.81%.
Separately, ValuEngine upgraded Genie Energy from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th.
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Genie Energy Profile
Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Afek Oil and Gas, Ltd.; and Genie Oil and Gas. It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States; and offers energy brokerage and advisory services.
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