Genie Energy Ltd. (NYSE:GNE) Announces Quarterly Dividend of $0.08

Genie Energy Ltd. (NYSE:GNE) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.075 per share by the oil and gas producer on Wednesday, November 20th. This represents a $0.30 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, November 12th.

Genie Energy has decreased its dividend by an average of 3.1% annually over the last three years.

Genie Energy Price Performance

NYSE GNE traded down $0.14 during trading on Thursday, hitting $16.69. 5,020 shares of the company’s stock traded hands, compared to its average volume of 117,559. The firm has a market cap of $448.79 million, a P/E ratio of 58.03 and a beta of 0.09. The stock has a fifty day moving average of $16.43 and a two-hundred day moving average of $15.88. Genie Energy has a 12-month low of $14.00 and a 12-month high of $30.90.

Genie Energy (NYSE:GNE) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.37 earnings per share (EPS) for the quarter. Genie Energy had a return on equity of 23.30% and a net margin of 1.75%. The business had revenue of $90.70 million for the quarter.

Insider Buying and Selling at Genie Energy

In related news, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.19, for a total value of $63,173.25. Following the sale, the director now owns 304,411 shares in the company, valued at $5,232,825.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Avi Goldin sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the transaction, the chief financial officer now owns 134,999 shares in the company, valued at $2,320,632.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James A. Courter sold 3,675 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.19, for a total transaction of $63,173.25. Following the sale, the director now owns 304,411 shares in the company, valued at approximately $5,232,825.09. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Genie Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

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.