Allspring Global Investments Holdings LLC Boosts Holdings in Genie Energy Ltd. (NYSE:GNE)

Allspring Global Investments Holdings LLC lifted its position in shares of Genie Energy Ltd. (NYSE:GNE) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,676 shares of the oil and gas producer’s stock after acquiring an additional 1,046 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.30% of Genie Energy worth $1,311,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GNE. Point72 DIFC Ltd grew its stake in shares of Genie Energy by 11,831.6% in the second quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 2,248 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of 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 worth $161,000 after acquiring an additional 3,144 shares during the period. BOKF NA purchased a new position in shares of Genie Energy during the 2nd quarter worth approximately $165,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Genie Energy in the 2nd quarter valued at about $169,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Genie Energy during the 2nd quarter valued at approximately $179,000. Institutional investors and hedge funds own 49.15% of the company’s stock.

Genie Energy Trading Down 1.3 %

Shares of GNE opened at $15.81 on Thursday. The stock has a 50 day moving average of $16.50 and a 200-day moving average of $15.86. Genie Energy Ltd. has a 52 week low of $14.00 and a 52 week high of $30.90. The firm has a market cap of $428.94 million, a price-to-earnings ratio of 31.96 and a beta of 0.08.

Genie Energy (NYSE:GNE) last announced its 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 net margin of 1.75% and a return on equity of 23.30%. The firm had revenue of $90.70 million during the quarter.

Genie Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.30 annualized dividend and a yield of 1.90%. Genie Energy’s dividend payout ratio (DPR) is presently 60.00%.

Insider Buying and Selling at Genie Energy

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

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, August 1st.

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.