Panagora Asset Management Inc. Acquires 3,010 Shares of Genie Energy Ltd. (NYSE:GNE)

Panagora Asset Management Inc. boosted its position in shares of Genie Energy Ltd. (NYSE:GNEFree Report) by 10.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,943 shares of the oil and gas producer’s stock after purchasing an additional 3,010 shares during the period. Panagora Asset Management Inc. owned about 0.12% of Genie Energy worth $471,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Koss Olinger Consulting LLC grew its holdings in Genie Energy by 3.6% during the 1st quarter. Koss Olinger Consulting LLC now owns 18,396 shares of the oil and gas producer’s stock valued at $254,000 after purchasing an additional 639 shares during the last quarter. UBS Group AG grew its holdings in Genie Energy by 42.4% during the 1st quarter. UBS Group AG now owns 3,417 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,017 shares during the last quarter. Geode Capital Management LLC grew its holdings in Genie Energy by 0.8% during the 1st quarter. Geode Capital Management LLC now owns 184,463 shares of the oil and gas producer’s stock valued at $2,549,000 after purchasing an additional 1,502 shares during the last quarter. Captrust Financial Advisors grew its holdings in Genie Energy by 168.7% during the 2nd 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 during the last quarter. Finally, Barclays PLC grew its stake in Genie Energy by 21.1% in the 1st quarter. Barclays PLC now owns 12,396 shares of the oil and gas producer’s stock worth $172,000 after acquiring an additional 2,160 shares in the last quarter. 41.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Genie Energy from a “hold” rating to a “buy” rating in a research note on Thursday, January 18th.

Check Out Our Latest Stock Analysis on Genie Energy

Insider Transactions at Genie Energy

In other news, Director Alan B. Rosenthal sold 14,990 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $27.78, for a total value of $416,422.20. Following the completion of the sale, the director now owns 21,013 shares of the company’s stock, valued at approximately $583,741.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joyce J. Mason sold 2,012 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $23.53, for a total transaction of $47,342.36. Following the completion of the sale, the director now owns 16,000 shares of the company’s stock, valued at $376,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan B. Rosenthal sold 14,990 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $27.78, for a total transaction of $416,422.20. Following the sale, the director now directly owns 21,013 shares of the company’s stock, valued at approximately $583,741.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,626 shares of company stock valued at $1,410,617. Company insiders own 18.90% of the company’s stock.

Genie Energy Price Performance

Shares of GNE stock opened at $19.67 on Wednesday. The company has a market capitalization of $539.35 million, a P/E ratio of 8.74 and a beta of 0.36. The company’s 50-day simple moving average is $25.63 and its two-hundred day simple moving average is $19.60. Genie Energy Ltd. has a one year low of $8.28 and a one year high of $30.90.

Genie Energy (NYSE:GNEGet Free Report) last announced its quarterly earnings results on Monday, November 6th. The oil and gas producer reported $0.54 earnings per share for the quarter. Genie Energy had a net margin of 14.98% and a return on equity of 26.88%. The firm had revenue of $125.05 million during the quarter.

Genie Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Monday, November 13th were given a $0.075 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.30 annualized dividend and a dividend yield of 1.53%. Genie Energy’s payout ratio is presently 13.33%.

Genie Energy Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Genie Energy (NYSE:GNE)

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