Cerity Partners LLC Boosts Holdings in Genie Energy Ltd. (NYSE:GNE)

Cerity Partners LLC raised its holdings in Genie Energy Ltd. (NYSE:GNE) by 118.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,324 shares of the oil and gas producer’s stock after purchasing an additional 51,160 shares during the quarter. Cerity Partners LLC owned 0.35% of Genie Energy worth $1,533,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GNE. Point72 DIFC Ltd raised its position in shares of Genie Energy by 11,831.6% during the 2nd quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 2,248 shares during the last quarter. BOKF NA acquired a new stake in Genie Energy in the 2nd quarter valued at about $165,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Genie Energy in the 2nd quarter valued at about $169,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Genie Energy in the 2nd quarter valued at about $179,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Genie Energy by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock valued at $202,000 after acquiring an additional 1,002 shares during the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.

Insider Activity

In related news, Director James A. Courter sold 3,675 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 304,411 shares of the company’s stock, valued at approximately $5,232,825.09. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Avi Goldin sold 2,300 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total transaction of $39,537.00. Following the transaction, the chief financial officer now directly owns 134,999 shares of the company’s stock, valued at $2,320,632.81. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,275 shares of company stock valued at $215,276 in the last 90 days. Company insiders own 16.50% of the company’s stock.

Genie Energy Stock Down 2.8 %

GNE stock opened at $14.93 on Wednesday. The company has a market cap of $406.10 million, a price-to-earnings ratio of 106.65 and a beta of 0.07. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. Genie Energy Ltd. has a 12 month low of $14.00 and a 12 month high of $30.90. The firm has a 50-day moving average of $16.05 and a two-hundred day moving average of $15.91.

Genie Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th were paid a $0.075 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.30 annualized dividend and a dividend yield of 2.01%. Genie Energy’s dividend payout ratio (DPR) is 214.30%.

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.