Genie Energy (NYSE:GNE) Posts Earnings Results, Misses Expectations By $0.38 EPS

Genie Energy (NYSE:GNE) announced its quarterly earnings data on Monday. The oil and gas producer reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.38), Morningstar.com reports. Genie Energy had a return on equity of 37.04% and a net margin of 8.18%. The company had revenue of $61.01 million for the quarter, compared to analyst estimates of $51.10 million.

Shares of Genie Energy stock traded down $0.66 during trading on Tuesday, reaching $6.93. 13,107 shares of the company were exchanged, compared to its average volume of 258,715. The company has a quick ratio of 1.83, a current ratio of 2.02 and a debt-to-equity ratio of 0.03. Genie Energy has a twelve month low of $5.08 and a twelve month high of $11.98. The business’s 50-day simple moving average is $10.84. The stock has a market cap of $288.79 million, a price-to-earnings ratio of 7.63 and a beta of 1.37.

Several institutional investors have recently made changes to their positions in the stock. Willingdon Wealth Management acquired a new stake in shares of Genie Energy during the first quarter worth $26,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Genie Energy by 8.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 76,258 shares of the oil and gas producer’s stock worth $648,000 after acquiring an additional 5,900 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in Genie Energy during the fourth quarter worth about $60,000. Northern Trust Corp lifted its holdings in Genie Energy by 29.5% during the fourth quarter. Northern Trust Corp now owns 46,629 shares of the oil and gas producer’s stock worth $281,000 after acquiring an additional 10,620 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Genie Energy by 538.5% during the fourth quarter. Deutsche Bank AG now owns 14,059 shares of the oil and gas producer’s stock worth $84,000 after acquiring an additional 11,857 shares in the last quarter. 19.91% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research cut Genie Energy from a “buy” rating to a “hold” rating in a research note on Friday.

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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Earnings History for Genie Energy (NYSE:GNE)

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