Recent Research Analysts’ Ratings Updates for Genie Energy (GNE)

Several analysts have recently updated their ratings and price targets for Genie Energy (NYSE: GNE):

  • 8/15/2019 – Genie Energy was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 8/10/2019 – Genie Energy was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Genie Energy Ltd., is engaged in supplying electricity and natural gas in New York, Pennsylvania, and New Jersey. The Company has oil shale projects in Colorado and Israel and also provides alternative fuels for transportation purposes. Genie Energy Ltd. is based in Newark, New Jersey. “
  • 8/7/2019 – Genie Energy had its “hold” rating reaffirmed by analysts at Noble Financial.
  • 8/2/2019 – Genie Energy was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Genie Energy Ltd., is engaged in supplying electricity and natural gas in New York, Pennsylvania, and New Jersey. The Company has oil shale projects in Colorado and Israel and also provides alternative fuels for transportation purposes. Genie Energy Ltd. is based in Newark, New Jersey. “
  • 7/11/2019 – Genie Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $13.00 price target on the stock. According to Zacks, “Genie Energy Ltd., is engaged in supplying electricity and natural gas in New York, Pennsylvania, and New Jersey. The Company has oil shale projects in Colorado and Israel and also provides alternative fuels for transportation purposes. Genie Energy Ltd. is based in Newark, New Jersey. “

NYSE:GNE traded down $0.10 on Friday, reaching $7.26. The stock had a trading volume of 92 shares, compared to its average volume of 301,574. The company has a market cap of $202.67 million, a price-to-earnings ratio of 8.07 and a beta of 1.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.60. The firm’s fifty day moving average is $9.69 and its two-hundred day moving average is $9.16. Genie Energy Ltd has a 12-month low of $5.08 and a 12-month high of $11.98.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Monday, August 5th. The oil and gas producer reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.38). The company had revenue of $61.01 million for the quarter, compared to analysts’ expectations of $51.10 million. Genie Energy had a return on equity of 24.53% and a net margin of 6.08%. As a group, research analysts forecast that Genie Energy Ltd will post 0.28 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 16th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.30 annualized dividend and a dividend yield of 4.13%. Genie Energy’s payout ratio is currently 33.33%.

In related news, Director James A. Courter acquired 56,649 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $7.01 per share, for a total transaction of $397,109.49. Following the acquisition, the director now directly owns 313,632 shares in the company, valued at approximately $2,198,560.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 29.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in GNE. Willingdon Wealth Management acquired a new position in Genie Energy during the 1st quarter worth about $26,000. JPMorgan Chase & Co. bought a new stake in Genie Energy during the 2nd quarter worth approximately $41,000. Zebra Capital Management LLC bought a new stake in Genie Energy during the 2nd quarter worth approximately $111,000. Deutsche Bank AG increased its holdings in Genie Energy by 538.5% during the 4th quarter. Deutsche Bank AG now owns 14,059 shares of the oil and gas producer’s stock worth $84,000 after purchasing an additional 11,857 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Genie Energy by 4,986.3% during the 1st quarter. Bank of Montreal Can now owns 20,040 shares of the oil and gas producer’s stock worth $171,000 after purchasing an additional 19,646 shares in the last quarter. Institutional investors and hedge funds own 24.10% of the company’s stock.

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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