Genie Energy (NYSE:GNE) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Genie Energy (NYSE:GNE) from a buy rating to a strong-buy rating in a report released on Wednesday morning.

Genie Energy Trading Up 3.1 %

GNE stock opened at $14.28 on Wednesday. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. Genie Energy has a twelve month low of $13.05 and a twelve month high of $17.93. The stock has a market capitalization of $388.28 million, a price-to-earnings ratio of 101.97 and a beta of 0.02. The firm’s fifty day simple moving average is $14.59 and its two-hundred day simple moving average is $15.49.

Genie Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Tuesday, February 18th. Genie Energy’s payout ratio is presently 214.29%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Genie Energy in the fourth quarter worth about $37,000. SG Americas Securities LLC bought a new position in shares of Genie Energy in the fourth quarter worth about $107,000. Wells Fargo & Company MN grew its holdings in shares of Genie Energy by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,725 shares of the oil and gas producer’s stock worth $120,000 after purchasing an additional 1,699 shares during the last quarter. PDT Partners LLC bought a new position in shares of Genie Energy in the fourth quarter worth about $174,000. Finally, Pictet Asset Management Holding SA bought a new position in shares of Genie Energy in the fourth quarter worth about $209,000. 49.15% of the stock is currently owned by institutional investors.

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.