Genie Energy (NYSE:GNE) Trading 2.8% Higher

Genie Energy Ltd. (NYSE:GNE)’s stock price traded up 2.8% during trading on Thursday . The company traded as high as $25.61 and last traded at $25.48. 40,124 shares traded hands during trading, a decline of 69% from the average session volume of 128,772 shares. The stock had previously closed at $24.78.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Genie Energy from a “buy” rating to a “hold” rating in a report on Wednesday.

Genie Energy Stock Down 0.4 %

The stock has a fifty day simple moving average of $18.50 and a 200 day simple moving average of $15.87. The firm has a market capitalization of $696.11 million, a P/E ratio of 11.27 and a beta of 0.30.

Genie Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Monday, November 13th will be issued a $0.075 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.30 annualized dividend and a dividend yield of 1.18%. Genie Energy’s dividend payout ratio (DPR) is 13.33%.

Insider Transactions at Genie Energy

In other news, CFO Avi Goldin sold 6,500 shares of Genie Energy stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $24.06, for a total value of $156,390.00. Following the sale, the chief financial officer now directly owns 141,763 shares of the company’s stock, valued at $3,410,817.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNE. State Street Corp grew its position in Genie Energy by 4.9% in the first quarter. State Street Corp now owns 96,674 shares of the oil and gas producer’s stock worth $653,000 after acquiring an additional 4,481 shares in the last quarter. Renaissance Technologies LLC grew its position in Genie Energy by 3.3% in the second quarter. Renaissance Technologies LLC now owns 714,685 shares of the oil and gas producer’s stock worth $6,547,000 after acquiring an additional 23,100 shares in the last quarter. Captrust Financial Advisors grew its position in Genie Energy by 168.7% in the second quarter. Captrust Financial Advisors now owns 3,348 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 2,102 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Genie Energy in the second quarter worth about $96,000. Finally, UBS Group AG grew its position in Genie Energy by 505.6% in the third quarter. UBS Group AG now owns 6,056 shares of the oil and gas producer’s stock worth $56,000 after acquiring an additional 5,056 shares in the last quarter. Hedge funds and other institutional investors own 41.58% of the company’s stock.

Genie Energy Company Profile

Genie Energy Ltd., through its subsidiaries, supplies electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, Genie Retail Energy 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 advisory and brokerage services; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.