Wintrust Investments LLC Makes New Investment in Genie Energy Ltd. (NYSE:GNE)

Wintrust Investments LLC purchased a new position in Genie Energy Ltd. (NYSE:GNE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,781 shares of the oil and gas producer’s stock, valued at approximately $379,000. Wintrust Investments LLC owned about 0.10% of Genie Energy at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GNE. Strs Ohio acquired a new stake in Genie Energy in the 2nd quarter worth about $31,000. Captrust Financial Advisors lifted its stake in shares of Genie Energy by 168.7% in the 2nd quarter. Captrust Financial Advisors now owns 3,348 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 2,102 shares in the last quarter. UBS Group AG lifted its stake in shares of Genie Energy by 42.4% in the 1st quarter. UBS Group AG now owns 3,417 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 1,017 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Genie Energy in the 2nd quarter valued at about $96,000. Finally, Barclays PLC lifted its stake in shares of Genie Energy by 766.0% in the 4th quarter. Barclays PLC now owns 10,236 shares of the oil and gas producer’s stock valued at $106,000 after purchasing an additional 9,054 shares in the last quarter. 41.58% of the stock is owned by institutional investors and hedge funds.

Genie Energy Stock Performance

Shares of NYSE:GNE opened at $25.35 on Friday. The company has a market cap of $696.11 million, a P/E ratio of 11.27 and a beta of 0.30. Genie Energy Ltd. has a one year low of $8.28 and a one year high of $26.25. The business’s 50-day simple moving average is $18.50 and its 200 day simple moving average is $15.87.

Genie Energy Cuts Dividend

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

Insider Activity at Genie Energy

In related news, CFO Avi Goldin sold 6,500 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $24.06, for a total transaction of $156,390.00. Following the sale, the chief financial officer now directly owns 141,763 shares in the company, valued at approximately $3,410,817.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 18.90% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Genie Energy from a “buy” rating to a “hold” rating in a research note on Wednesday.

Genie Energy 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.