AlphaQuest LLC Reduces Stock Position in Genie Energy Ltd. (NYSE:GNE)

AlphaQuest LLC decreased its holdings in Genie Energy Ltd. (NYSE:GNE) by 37.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,626 shares of the oil and gas producer’s stock after selling 9,990 shares during the period. AlphaQuest LLC owned about 0.06% of Genie Energy worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cerity Partners LLC grew its stake in Genie Energy by 118.5% in the 3rd quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer’s stock worth $1,533,000 after acquiring an additional 51,160 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Genie Energy by 269.5% during the 3rd quarter. GSA Capital Partners LLP now owns 61,871 shares of the oil and gas producer’s stock worth $1,005,000 after purchasing an additional 45,125 shares during the period. Americana Partners LLC raised its position in Genie Energy by 37.8% during the 4th quarter. Americana Partners LLC now owns 159,200 shares of the oil and gas producer’s stock valued at $2,482,000 after purchasing an additional 43,655 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Genie Energy by 24.3% during the 4th quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer’s stock worth $2,599,000 after buying an additional 32,630 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Genie Energy during the 3rd quarter worth $433,000. 49.15% of the stock is currently owned by institutional investors.

Genie Energy Price Performance

GNE opened at $14.12 on Friday. The firm has a market capitalization of $383.93 million, a PE ratio of 100.83 and a beta of 0.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The business’s 50-day moving average is $14.51 and its two-hundred day moving average is $15.44. Genie Energy Ltd. has a 1 year low of $13.05 and a 1 year high of $17.93.

Genie Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Tuesday, February 18th. Genie Energy’s payout ratio is presently 214.29%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Genie Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

About Genie Energy

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.