Mackenzie Financial Corp Has $587,000 Holdings in Genie Energy Ltd. (NYSE:GNE)

Mackenzie Financial Corp trimmed its holdings in shares of Genie Energy Ltd. (NYSE:GNE) by 37.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,629 shares of the oil and gas producer’s stock after selling 22,312 shares during the period. Mackenzie Financial Corp owned about 0.14% of Genie Energy worth $587,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Genie Energy by 112.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,057 shares of the oil and gas producer’s stock valued at $734,000 after purchasing an additional 24,937 shares during the last quarter. Two Sigma Advisers LP bought a new position in Genie Energy in the 4th quarter valued at about $588,000. Two Sigma Investments LP raised its holdings in Genie Energy by 39.7% in the 4th quarter. Two Sigma Investments LP now owns 59,103 shares of the oil and gas producer’s stock valued at $921,000 after acquiring an additional 16,788 shares during the period. Man Group plc increased its holdings in shares of Genie Energy by 46.8% during the fourth quarter. Man Group plc now owns 35,636 shares of the oil and gas producer’s stock worth $556,000 after purchasing an additional 11,368 shares during the period. Finally, J. Goldman & Co LP increased its holdings in shares of Genie Energy by 14.8% during the fourth quarter. J. Goldman & Co LP now owns 676,268 shares of the oil and gas producer’s stock worth $10,543,000 after purchasing an additional 87,206 shares during the period. 49.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Genie Energy

In other Genie Energy news, Director Allan Sass sold 2,920 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $17.72, for a total value of $51,742.40. Following the sale, the director now owns 38,690 shares in the company, valued at $685,586.80. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 17.40% of the stock is currently owned by insiders.

Genie Energy Stock Up 1.0%

Shares of GNE opened at $21.34 on Tuesday. Genie Energy Ltd. has a 12 month low of $13.05 and a 12 month high of $21.90. The firm’s 50 day moving average is $16.47 and its 200-day moving average is $15.38. The stock has a market capitalization of $572.97 million, a PE ratio of 152.46 and a beta of -0.02. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01.

Genie Energy (NYSE:GNE) last announced its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 EPS for the quarter. The company had revenue of $136.81 million for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.41%. Genie Energy’s dividend payout ratio (DPR) is 214.29%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Genie Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 7th.

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.