Strs Ohio Sells 16,700 Shares of Genie Energy Ltd. (NYSE:GNE)

Strs Ohio cut its stake in shares of Genie Energy Ltd. (NYSE:GNE) by 43.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,400 shares of the oil and gas producer’s stock after selling 16,700 shares during the quarter. Strs Ohio owned approximately 0.08% of Genie Energy worth $601,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Genie Energy in the fourth quarter valued at about $211,000. Metis Global Partners LLC bought a new position in shares of Genie Energy in the third quarter valued at about $151,000. Jump Financial LLC bought a new position in shares of Genie Energy in the third quarter valued at about $184,000. State Board of Administration of Florida Retirement System bought a new position in shares of Genie Energy in the third quarter valued at about $224,000. Finally, Algert Global LLC raised its holdings in shares of Genie Energy by 13.7% in the third quarter. Algert Global LLC now owns 17,330 shares of the oil and gas producer’s stock valued at $255,000 after buying an additional 2,090 shares during the last quarter. 49.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Genie Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th.

Genie Energy Trading Down 1.2 %

Shares of NYSE:GNE opened at $15.51 on Friday. The stock has a market capitalization of $424.35 million, a P/E ratio of 20.96 and a beta of 0.17. Genie Energy Ltd. has a 1-year low of $12.95 and a 1-year high of $30.90. The business has a 50-day moving average price of $16.47 and a two-hundred day moving average price of $20.67.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Monday, March 11th. The oil and gas producer reported $0.37 earnings per share for the quarter. The firm had revenue of $104.90 million during the quarter. Genie Energy had a return on equity of 25.39% and a net margin of 4.56%.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.30 annualized dividend and a yield of 1.93%. Genie Energy’s dividend payout ratio is currently 40.54%.

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.