Allspring Global Investments Holdings LLC Reduces Holdings in Genie Energy Ltd. (NYSE:GNE)

Allspring Global Investments Holdings LLC reduced its position in shares of Genie Energy Ltd. (NYSE:GNE) by 26.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,293 shares of the oil and gas producer’s stock after selling 21,383 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Genie Energy were worth $924,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. R Squared Ltd acquired a new position in Genie Energy during the fourth quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in shares of Genie Energy in the fourth quarter worth $107,000. Barclays PLC boosted its holdings in Genie Energy by 234.6% in the third quarter. Barclays PLC now owns 20,617 shares of the oil and gas producer’s stock worth $334,000 after purchasing an additional 14,455 shares during the period. Geode Capital Management LLC boosted its holdings in Genie Energy by 4.4% in the third quarter. Geode Capital Management LLC now owns 421,087 shares of the oil and gas producer’s stock worth $6,844,000 after purchasing an additional 17,613 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Genie Energy by 9.4% during the third quarter. Jane Street Group LLC now owns 65,788 shares of the oil and gas producer’s stock valued at $1,069,000 after acquiring an additional 5,671 shares during the period. 49.15% of the stock is owned by institutional investors and hedge funds.

Genie Energy Stock Performance

Shares of GNE opened at $14.12 on Monday. Genie Energy Ltd. has a 1 year low of $13.92 and a 1 year high of $19.64. The company has a market cap of $383.98 million, a price-to-earnings ratio of 100.84 and a beta of 0.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56. The firm has a fifty day moving average of $14.69 and a 200-day moving average of $15.61.

Genie Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.13%. The ex-dividend date is Tuesday, February 18th. Genie Energy’s payout ratio is currently 214.29%.

Genie Energy Company Profile

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