Nationwide Fund Advisors increased its position in shares of Genie Energy Ltd. (NYSE:GNE) by 105.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,425 shares of the oil and gas producer’s stock after buying an additional 28,900 shares during the quarter. Nationwide Fund Advisors owned about 0.24% of Genie Energy worth $430,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Genie Energy by 0.8% in the second quarter. Rhumbline Advisers now owns 16,930 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 138 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Genie Energy by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,411 shares of the oil and gas producer’s stock valued at $232,000 after buying an additional 700 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Genie Energy by 10.2% in the second quarter. Bank of New York Mellon Corp now owns 133,822 shares of the oil and gas producer’s stock valued at $1,020,000 after buying an additional 12,413 shares in the last quarter. Eagle Global Advisors LLC purchased a new stake in shares of Genie Energy in the second quarter valued at approximately $111,000. Finally, Strs Ohio purchased a new stake in shares of Genie Energy in the second quarter valued at approximately $187,000. Institutional investors own 19.45% of the company’s stock.
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Genie Energy Ltd. (GNE) opened at $5.43 on Wednesday. Genie Energy Ltd. has a 1-year low of $4.94 and a 1-year high of $8.31. The company has a quick ratio of 1.60, a current ratio of 1.70 and a debt-to-equity ratio of 0.05.
Genie Energy (NYSE:GNE) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas producer reported $0.02 earnings per share for the quarter. Genie Energy had a negative return on equity of 15.91% and a negative net margin of 3.62%. The company had revenue of $69.47 million during the quarter.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 13th will be paid a $0.075 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.30 annualized dividend and a yield of 5.52%. Genie Energy’s payout ratio is currently -75.00%.
Separately, TheStreet downgraded Genie Energy from a “c-” rating to a “d+” rating in a research note on Thursday, August 3rd.
In related news, Director James A. Courter sold 5,000 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $6.71, for a total value of $33,550.00. Following the completion of the transaction, the director now directly owns 301,983 shares in the company, valued at $2,026,305.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 30,000 shares of company stock valued at $181,550 over the last quarter. Insiders own 31.00% of the company’s stock.
About Genie Energy
Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc and Residents Energy, Inc, and energy brokerage and marketing services.
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