Pictet Asset Management Holding SA Makes New Investment in Genie Energy Ltd. (NYSE:GNE)

Pictet Asset Management Holding SA purchased a new position in shares of Genie Energy Ltd. (NYSE:GNE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,438 shares of the oil and gas producer’s stock, valued at approximately $209,000.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. raised its holdings in Genie Energy by 4.9% during the fourth quarter. American Century Companies Inc. now owns 33,752 shares of the oil and gas producer’s stock worth $526,000 after purchasing an additional 1,566 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Genie Energy by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 41,960 shares of the oil and gas producer’s stock valued at $682,000 after acquiring an additional 1,891 shares during the last quarter. R Squared Ltd purchased a new position in shares of Genie Energy during the 4th quarter worth approximately $37,000. Jane Street Group LLC lifted its stake in Genie Energy by 9.4% in the 3rd quarter. Jane Street Group LLC now owns 65,788 shares of the oil and gas producer’s stock valued at $1,069,000 after buying an additional 5,671 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Genie Energy during the 4th quarter valued at $107,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Genie Energy Stock Performance

Shares of GNE opened at $14.83 on Friday. Genie Energy Ltd. has a 1 year low of $13.05 and a 1 year high of $17.93. The company’s 50 day simple moving average is $14.65 and its 200 day simple moving average is $15.16. The company has a market capitalization of $400.64 million, a price-to-earnings ratio of 105.96 and a beta of 0.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56.

Genie Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a $0.075 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.30 annualized dividend and a yield of 2.02%. Genie Energy’s payout ratio is currently 214.29%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Genie Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th.

Genie Energy 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.