Genie Energy Ltd. (NYSE:GNE) Director James A. Courter Sells 3,675 Shares of Stock

Genie Energy Ltd. (NYSE:GNE) Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.19, for a total value of $63,173.25. Following the completion of the transaction, the director now owns 304,411 shares of the company’s stock, valued at $5,232,825.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Genie Energy Stock Down 6.1 %

Shares of NYSE:GNE opened at $16.49 on Tuesday. The company’s 50-day moving average price is $16.38 and its 200 day moving average price is $15.84. The company has a market cap of $447.39 million, a PE ratio of 32.98 and a beta of 0.09. Genie Energy Ltd. has a fifty-two week low of $14.00 and a fifty-two week high of $30.90.

Genie Energy (NYSE:GNE) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.37 earnings per share for the quarter. Genie Energy had a return on equity of 23.30% and a net margin of 1.75%. The company had revenue of $90.70 million for the quarter.

Genie Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Wednesday, August 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.82%. Genie Energy’s payout ratio is 60.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GNE. Point72 DIFC Ltd raised its holdings in Genie Energy by 11,831.6% during the second quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 2,248 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Genie Energy by 41.9% during the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after purchasing an additional 3,144 shares during the period. BOKF NA bought a new stake in shares of Genie Energy in the 2nd quarter worth $165,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Genie Energy in the second quarter valued at $169,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Genie Energy in the second quarter valued at $179,000. 49.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Genie Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

Genie Energy Company Profile

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.