Genie Energy (NYSE:GNE) announced a quarterly dividend on Friday, March 9th, Wall Street Journal reports. Shareholders of record on Monday, March 19th will be paid a dividend of 0.075 per share by the oil and gas producer on Friday, March 23rd. This represents a $0.30 annualized dividend and a yield of 7.50%. The ex-dividend date of this dividend is Friday, March 16th.
Genie Energy has increased its dividend payment by an average of 71.0% per year over the last three years and has increased its dividend every year for the last 3 years.
Shares of Genie Energy stock traded up $0.02 during trading on Friday, hitting $4.00. 177,630 shares of the stock were exchanged, compared to its average volume of 69,293. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.57 and a current ratio of 1.65. Genie Energy has a 1-year low of $3.86 and a 1-year high of $8.31.
A hedge fund recently raised its stake in Genie Energy stock. State Street Corp grew its position in Genie Energy (NYSE:GNE) by 21.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,427 shares of the oil and gas producer’s stock after buying an additional 31,379 shares during the quarter. State Street Corp owned 0.78% of Genie Energy worth $1,375,000 as of its most recent SEC filing. Institutional investors own 19.78% of the company’s stock.
About Genie Energy
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; Afek Oil and Gas, Ltd.; and Genie Oil and Gas. It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States; and offers energy brokerage and advisory services.
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