Industry News

Chicago Equity Partners LLC Takes Position in Genie Energy Ltd (NYSE:GNE)

By September 4, 2019 No Comments

Chicago Equity Partners LLC acquired a new stake in Genie Energy Ltd (NYSE:GNE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 22,690 shares of the oil and gas producer’s stock, valued at approximately $242,000. Chicago Equity Partners LLC owned approximately 0.08% of Genie Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GNE. Willingdon Wealth Management acquired a new stake in shares of Genie Energy in the first quarter valued at approximately $26,000. Acadian Asset Management LLC increased its stake in Genie Energy by 142.0% in the first quarter. Acadian Asset Management LLC now owns 58,916 shares of the oil and gas producer’s stock valued at $501,000 after acquiring an additional 34,569 shares during the last quarter. Deutsche Bank AG increased its stake in Genie Energy by 538.5% in the fourth quarter. Deutsche Bank AG now owns 14,059 shares of the oil and gas producer’s stock valued at $84,000 after acquiring an additional 11,857 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Genie Energy by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 971,123 shares of the oil and gas producer’s stock valued at $5,856,000 after acquiring an additional 14,897 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in Genie Energy in the first quarter valued at approximately $465,000. Institutional investors own 27.30% of the company’s stock.

GNE stock traded down $0.18 during midday trading on Tuesday, hitting $6.98. The stock had a trading volume of 919 shares, compared to its average volume of 289,735. The firm has a market cap of $195.04 million, a P/E ratio of 7.78 and a beta of 1.44. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. Genie Energy Ltd has a 1-year low of $5.08 and a 1-year high of $11.98. The business has a fifty day moving average price of $8.77 and a two-hundred day moving average price of $9.11.

Genie Energy (NYSE:GNE) last posted its quarterly earnings data on Monday, August 5th. The oil and gas producer reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.38). The company had revenue of $61.01 million for the quarter, compared to analysts’ expectations of $51.10 million. Genie Energy had a return on equity of 24.53% and a net margin of 6.08%. On average, equities analysts anticipate that Genie Energy Ltd will post 0.28 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.30%. The ex-dividend date was Thursday, August 15th. Genie Energy’s payout ratio is 33.33%.

A number of research firms have weighed in on GNE. TheStreet cut shares of Genie Energy from a “b-” rating to a “c+” rating in a research note on Thursday, August 15th. Noble Financial reaffirmed a “hold” rating on shares of Genie Energy in a research note on Wednesday, August 7th. Finally, Zacks Investment Research cut shares of Genie Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 10th.

In other news, Director James A. Courter purchased 56,649 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average cost of $7.01 per share, with a total value of $397,109.49. Following the acquisition, the director now directly owns 313,632 shares in the company, valued at $2,198,560.32. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 29.60% of the stock is owned by company insiders.

Genie Energy Company Profile

Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.

See Also: Overbought

Institutional Ownership by Quarter for Genie Energy (NYSE:GNE)

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