Genie Energy Ltd. Announces Quarterly Dividend of $0.08 (NYSE:GNE)

Genie Energy Ltd. (NYSE:GNE) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.075 per share by the oil and gas producer on Friday, May 31st. This represents a $0.30 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, May 17th.

Genie Energy has decreased its dividend payment by an average of 3.1% per year over the last three years.

Genie Energy Stock Performance

Shares of GNE stock traded up $0.42 during midday trading on Thursday, reaching $15.20. 79,082 shares of the company were exchanged, compared to its average volume of 163,422. Genie Energy has a 12 month low of $12.95 and a 12 month high of $30.90. The company’s 50 day moving average price is $16.05 and its two-hundred day moving average price is $20.49. The company has a market cap of $415.87 million, a P/E ratio of 19.97 and a beta of 0.17.

Genie Energy (NYSE:GNE) last issued its quarterly earnings results on Monday, March 11th. The oil and gas producer reported $0.37 EPS for the quarter. The firm had revenue of $104.90 million for the quarter. Genie Energy had a net margin of 4.56% and a return on equity of 25.39%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Genie Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th.

About Genie Energy

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.