Allspring Global Investments Holdings LLC Acquires 8,643 Shares of Genie Energy Ltd. (NYSE:GNE)

Allspring Global Investments Holdings LLC boosted its holdings in Genie Energy Ltd. (NYSE:GNE) by 12.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,630 shares of the oil and gas producer’s stock after acquiring an additional 8,643 shares during the period. Allspring Global Investments Holdings LLC owned 0.29% of Genie Energy worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GNE. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Genie Energy in the second quarter valued at about $179,000. 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 period. Hillsdale Investment Management Inc. increased its stake in shares of Genie Energy by 8.6% during the first quarter. Hillsdale Investment Management Inc. now owns 210,641 shares of the oil and gas producer’s stock worth $3,176,000 after purchasing an additional 16,700 shares during the period. Vanguard Group Inc. lifted its holdings in Genie Energy by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,242,612 shares of the oil and gas producer’s stock worth $18,739,000 after purchasing an additional 12,806 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Genie Energy by 41.9% in the 1st quarter. SG Americas Securities LLC now owns 10,645 shares of the oil and gas producer’s stock valued at $161,000 after purchasing an additional 3,144 shares during the period. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Price Performance

Shares of NYSE:GNE opened at $16.96 on Thursday. The business’s 50 day simple moving average is $16.10 and its 200 day simple moving average is $15.90. The company has a market capitalization of $460.14 million, a P/E ratio of 33.92 and a beta of 0.15. Genie Energy Ltd. has a 1 year low of $14.00 and a 1 year high of $30.90.

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

Genie Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Wednesday, August 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, August 14th. Genie Energy’s dividend payout ratio (DPR) is presently 60.00%.

Analyst Ratings Changes

Separately, StockNews.com raised Genie Energy from a “hold” rating to a “buy” rating in a report 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.