State Street Corp Has $8.46 Million Stake in Genie Energy Ltd. (NYSE:GNE)

State Street Corp raised its position in Genie Energy Ltd. (NYSE:GNE) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 520,358 shares of the oil and gas producer’s stock after buying an additional 11,981 shares during the quarter. State Street Corp owned about 1.94% of Genie Energy worth $8,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in Genie Energy by 1.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 80,676 shares of the oil and gas producer’s stock valued at $1,311,000 after acquiring an additional 1,046 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genie Energy by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 41,960 shares of the oil and gas producer’s stock valued at $682,000 after purchasing an additional 1,891 shares in the last quarter. Point72 DIFC Ltd boosted its holdings in shares of Genie Energy by 11,831.6% in the 2nd quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 2,248 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Genie Energy by 10.0% in the 2nd quarter. Principal Financial Group Inc. now owns 32,355 shares of the oil and gas producer’s stock valued at $473,000 after purchasing an additional 2,941 shares during the last quarter. Finally, Martingale Asset Management L P raised its holdings in shares of Genie Energy by 16.4% during the 3rd quarter. Martingale Asset Management L P now owns 36,791 shares of the oil and gas producer’s stock worth $598,000 after buying an additional 5,197 shares in the last quarter. 49.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Genie Energy

In other Genie Energy news, CFO Avi Goldin sold 7,300 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $15.42, for a total value of $112,566.00. Following the completion of the transaction, the chief financial officer now owns 127,699 shares of the company’s stock, valued at $1,969,118.58. This represents a 5.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.50% of the stock is currently owned by insiders.

Genie Energy Price Performance

Shares of GNE stock opened at $15.40 on Friday. The business has a fifty day simple moving average of $15.52 and a 200 day simple moving average of $15.85. The company has a market cap of $418.88 million, a P/E ratio of 110.01 and a beta of 0.07. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01. Genie Energy Ltd. has a twelve month low of $14.00 and a twelve month high of $30.25.

Genie Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th were issued a $0.075 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.95%. Genie Energy’s dividend payout ratio (DPR) is currently 214.29%.

Genie Energy 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.