Zacks: Genie Energy Ltd (NYSE:GNE) Receives Consensus Rating of “Hold” from Brokerages

Shares of Genie Energy Ltd (NYSE:GNE) have received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Zacks has also assigned Genie Energy an industry rank of 148 out of 256 based on the ratings given to related companies.

GNE has been the topic of a number of research reports. ValuEngine downgraded shares of Genie Energy from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Noble Financial initiated coverage on shares of Genie Energy in a report on Wednesday, March 20th. They issued a “hold” rating on the stock.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Genie Energy by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 618,280 shares of the oil and gas producer’s stock valued at $3,339,000 after acquiring an additional 18,957 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Genie Energy by 20.8% during the 4th quarter. First Trust Advisors LP now owns 33,771 shares of the oil and gas producer’s stock valued at $204,000 after acquiring an additional 5,811 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Genie Energy by 264.9% during the 4th quarter. Acadian Asset Management LLC now owns 24,347 shares of the oil and gas producer’s stock valued at $147,000 after acquiring an additional 17,674 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Genie Energy by 29.5% during the 4th quarter. Northern Trust Corp now owns 46,629 shares of the oil and gas producer’s stock valued at $281,000 after acquiring an additional 10,620 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Genie Energy by 31.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,358 shares of the oil and gas producer’s stock valued at $424,000 after acquiring an additional 16,800 shares in the last quarter. 19.69% of the stock is owned by institutional investors.

Shares of GNE stock opened at $10.65 on Tuesday. The stock has a market cap of $288.52 million, a PE ratio of 12.24 and a beta of 1.37. Genie Energy has a 52 week low of $4.81 and a 52 week high of $11.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.02. The business has a fifty day moving average of $9.83.

Genie Energy (NYSE:GNE) last announced its quarterly earnings results on Monday, May 6th. The oil and gas producer reported $0.21 EPS for the quarter, topping the consensus estimate of $0.05 by $0.16. The business had revenue of $86.62 million for the quarter, compared to analysts’ expectations of $72.40 million. Genie Energy had a net margin of 8.18% and a return on equity of 37.04%. On average, research analysts forecast that Genie Energy will post 0.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a $0.075 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.30 annualized dividend and a yield of 2.82%. Genie Energy’s dividend payout ratio (DPR) is 33.33%.

About Genie Energy

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; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.

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