BNP Paribas Financial Markets Trims Stake in Genie Energy Ltd. (NYSE:GNE)

BNP Paribas Financial Markets decreased its stake in shares of Genie Energy Ltd. (NYSE:GNE) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 28,052 shares of the oil and gas producer’s stock after selling 1,986 shares during the quarter. BNP Paribas Financial Markets’ holdings in Genie Energy were worth $456,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GNE. Americana Partners LLC increased its position in Genie Energy by 313.8% during the 3rd quarter. Americana Partners LLC now owns 115,545 shares of the oil and gas producer’s stock worth $1,878,000 after purchasing an additional 87,625 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Genie Energy by 118.5% during the 3rd quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer’s stock worth $1,533,000 after purchasing an additional 51,160 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Genie Energy by 1.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 80,676 shares of the oil and gas producer’s stock worth $1,311,000 after buying an additional 1,046 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Genie Energy by 102.5% in the second quarter. AQR Capital Management LLC now owns 76,309 shares of the oil and gas producer’s stock valued at $1,116,000 after buying an additional 38,632 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Genie Energy by 269.5% during the third quarter. GSA Capital Partners LLP now owns 61,871 shares of the oil and gas producer’s stock valued at $1,005,000 after buying an additional 45,125 shares during the period. 49.15% of the stock is owned by institutional investors and hedge funds.

Genie Energy Stock Down 0.8 %

Shares of NYSE GNE opened at $14.55 on Friday. The firm has a market cap of $395.76 million, a P/E ratio of 103.94 and a beta of 0.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56. Genie Energy Ltd. has a 1 year low of $14.00 and a 1 year high of $30.90. The firm’s 50 day moving average price is $15.80 and its 200 day moving average price is $15.87.

Genie Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Tuesday, November 12th. Genie Energy’s dividend payout ratio is currently 214.30%.

Insider Activity at Genie Energy

In related news, CFO Avi Goldin sold 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $15.42, for a total value of $112,566.00. Following the completion of the sale, the chief financial officer now directly owns 127,699 shares in the company, valued at approximately $1,969,118.58. The trade was a 5.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.50% of the company’s stock.

Genie Energy 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.