Denali Advisors LLC Sells 16,900 Shares of Genie Energy Ltd. (NYSE:GNE)

Denali Advisors LLC lessened its position in shares of Genie Energy Ltd. (NYSE:GNE) by 65.0% during the first quarter, HoldingsChannel.com reports. The fund owned 9,100 shares of the oil and gas producer’s stock after selling 16,900 shares during the period. Denali Advisors LLC’s holdings in Genie Energy were worth $137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in shares of Genie Energy by 147.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,717 shares of the oil and gas producer’s stock valued at $76,000 after purchasing an additional 1,620 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Genie Energy in the 4th quarter valued at $164,000. SG Americas Securities LLC purchased a new stake in shares of Genie Energy in the 4th quarter valued at $211,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Genie Energy in the 4th quarter valued at $357,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Genie Energy in the 4th quarter valued at $366,000. Institutional investors own 49.15% of the company’s stock.

Genie Energy Price Performance

GNE remained flat at $15.18 during trading on Wednesday. 48,304 shares of the company’s stock traded hands, compared to its average volume of 154,363. The company has a market cap of $411.85 million, a price-to-earnings ratio of 30.36 and a beta of 0.15. The company has a 50-day moving average price of $15.09 and a 200-day moving average price of $18.06. Genie Energy Ltd. has a fifty-two week low of $12.95 and a fifty-two week high of $30.90.

Genie Energy (NYSE:GNE) last announced its quarterly earnings results on Wednesday, May 8th. The oil and gas producer reported $0.33 earnings per share for the quarter. The business had revenue of $119.69 million during the quarter. Genie Energy had a net margin of 2.99% and a return on equity of 24.06%.

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a $0.075 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.98%. Genie Energy’s dividend payout ratio is 60.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Genie Energy from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th.

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.