Genie Energy (NYSE:GNE) Stock Price Passes Above 200-Day Moving Average of $8.01

Genie Energy Ltd. (NYSE:GNEGet Rating) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.01 and traded as high as $9.75. Genie Energy shares last traded at $9.57, with a volume of 61,387 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Genie Energy in a research note on Monday, June 6th. They issued a “hold” rating on the stock.

Genie Energy Stock Up 0.2 %

The firm has a 50 day moving average price of $9.73 and a 200 day moving average price of $8.01. The stock has a market cap of $250.70 million, a P/E ratio of 3.20 and a beta of 0.29.

Genie Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Thursday, August 18th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Wednesday, August 17th. Genie Energy’s dividend payout ratio (DPR) is currently 10.03%.

Institutional Trading of Genie Energy

Several institutional investors have recently made changes to their positions in the business. J. Goldman & Co LP grew its position in shares of Genie Energy by 26.4% during the first quarter. J. Goldman & Co LP now owns 1,264,320 shares of the oil and gas producer’s stock worth $8,534,000 after purchasing an additional 263,901 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Genie Energy by 3.3% during the second quarter. Renaissance Technologies LLC now owns 714,685 shares of the oil and gas producer’s stock worth $6,547,000 after purchasing an additional 23,100 shares in the last quarter. Kahn Brothers Group Inc. purchased a new stake in shares of Genie Energy during the first quarter worth about $2,180,000. State Street Corp grew its position in shares of Genie Energy by 3.9% during the second quarter. State Street Corp now owns 100,474 shares of the oil and gas producer’s stock worth $920,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Ahrens Investment Partners LLC purchased a new stake in shares of Genie Energy during the first quarter worth about $74,000. Hedge funds and other institutional investors own 23.68% of the company’s stock.

Genie Energy Company Profile

(Get Rating)

Genie Energy Ltd., through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States, Finland, Sweden, Japan, and internationally. It operates in three segments: Genie Retail Energy (GRE); GRE International; and Genie Renewables. The company also engages in the provision of energy advisory and brokerage services; solar panel manufacturing and distribution; solar installation design; and project management activities.

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