Genie Energy (NYSE:GNE) Upgraded by TheStreet to B-

Genie Energy (NYSE:GNE) was upgraded by equities research analysts at TheStreet from a “c” rating to a “b-” rating in a report released on Friday, TheStreetRatingsTable reports.

Other equities research analysts have also issued research reports about the company. ValuEngine upgraded Genie Energy from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded Genie Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Noble Financial restated a “hold” rating on shares of Genie Energy in a research report on Wednesday, August 7th.

Shares of GNE traded up $0.22 during midday trading on Friday, hitting $8.12. The company’s stock had a trading volume of 4,673 shares, compared to its average volume of 141,756. Genie Energy has a one year low of $5.70 and a one year high of $11.98. The company’s fifty day simple moving average is $7.43 and its two-hundred day simple moving average is $8.76. The company has a quick ratio of 1.60, a current ratio of 1.80 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $196.13 million, a price-to-earnings ratio of 9.02 and a beta of 1.38.

Genie Energy (NYSE:GNE) last issued its quarterly earnings data on Friday, November 8th. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $85.71 million for the quarter. Genie Energy had a return on equity of 22.42% and a net margin of 5.57%. On average, research analysts predict that Genie Energy will post 0.28 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in Genie Energy by 163.0% during the 2nd quarter. BlackRock Inc. now owns 1,105,173 shares of the oil and gas producer’s stock worth $11,769,000 after acquiring an additional 684,973 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Genie Energy by 32.9% in the 2nd quarter. Vanguard Group Inc. now owns 990,677 shares of the oil and gas producer’s stock valued at $10,551,000 after buying an additional 245,063 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Genie Energy by 1.5% in the 2nd quarter. Renaissance Technologies LLC now owns 536,397 shares of the oil and gas producer’s stock valued at $5,713,000 after buying an additional 7,900 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Genie Energy by 16.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 373,659 shares of the oil and gas producer’s stock valued at $3,980,000 after purchasing an additional 53,790 shares during the period. Finally, Bowling Portfolio Management LLC acquired a new position in shares of Genie Energy in the 3rd quarter valued at about $968,000. Institutional investors and hedge funds own 27.55% of the company’s stock.

About Genie Energy

Genie Energy Ltd., through its subsidiaries, operates as a retail energy provider; and an oil and gas exploration company. The company operates through three segments: Genie Retail Energy; Genie Energy Services; and Genie Oil and Gas, Inc It resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States, as well as in the United Kingdom, Japan, and Finland.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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