JPMorgan Chase & Co. Lowers Holdings in Genie Energy Ltd. (NYSE:GNE)

JPMorgan Chase & Co. lowered its position in Genie Energy Ltd. (NYSE:GNE) by 26.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,368 shares of the oil and gas producer’s stock after selling 4,820 shares during the quarter. JPMorgan Chase & Co.’s holdings in Genie Energy were worth $217,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Genie Energy by 1.3% during 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 buying an additional 1,046 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Genie Energy by 4.7% during 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 acquiring an additional 1,891 shares in the last quarter. Point72 DIFC Ltd increased 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 acquiring an additional 2,248 shares during the period. Martingale Asset Management L P raised its position in shares of Genie Energy by 16.4% in 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 acquiring an additional 5,197 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Genie Energy by 9.4% during the 3rd quarter. Jane Street Group LLC now owns 65,788 shares of the oil and gas producer’s stock worth $1,069,000 after purchasing an additional 5,671 shares during the last quarter. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Genie Energy news, CFO Avi Goldin sold 7,300 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $15.42, for a total transaction of $112,566.00. Following the sale, the chief financial officer now owns 127,699 shares in the company, valued at approximately $1,969,118.58. The trade was a 5.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.50% of the company’s stock.

Genie Energy Price Performance

Shares of GNE stock opened at $14.34 on Friday. The stock’s 50-day moving average is $14.90 and its 200 day moving average is $15.84. Genie Energy Ltd. has a 1-year low of $13.94 and a 1-year high of $19.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The company has a market cap of $390.05 million, a P/E ratio of 102.44 and a beta of 0.07.

Genie Energy (NYSE:GNE) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter. Genie Energy had a net margin of 0.80% and a return on equity of 21.48%. The business had revenue of $111.92 million for the quarter.

Genie Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.075 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.09%. Genie Energy’s payout ratio is 214.29%.

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.