Zacks Investment Research downgraded shares of Genie Energy (NYSE:GNE) from a hold rating to a strong sell rating in a report published on Saturday morning, Zacks.com reports.

According to Zacks, “Genie Energy Ltd., is engaged in supplying electricity and natural gas in New York, Pennsylvania, and New Jersey. The Company has oil shale projects in Colorado and Israel and also provides alternative fuels for transportation purposes. Genie Energy Ltd. is based in Newark, New Jersey. “

Separately, Noble Financial reissued a hold rating on shares of Genie Energy in a research note on Wednesday, August 7th.

NYSE GNE opened at $7.56 on Friday. The company has a market cap of $198.58 million, a price-to-earnings ratio of 8.40 and a beta of 1.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.02 and a quick ratio of 1.83. The company has a 50-day moving average of $10.33. Genie Energy has a 12 month low of $5.08 and a 12 month high of $11.98.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Monday, August 5th. The oil and gas producer reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.38). Genie Energy had a net margin of 6.08% and a return on equity of 24.42%. The business had revenue of $61.01 million during the quarter, compared to analyst estimates of $51.10 million. On average, analysts forecast that Genie Energy will post 0.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 16th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Thursday, August 15th. Genie Energy’s dividend payout ratio is presently 33.33%.

In other Genie Energy news, Director James A. Courter bought 56,649 shares of Genie Energy stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $7.01 per share, with a total value of $397,109.49. Following the completion of the acquisition, the director now directly owns 313,632 shares in the company, valued at approximately $2,198,560.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 29.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Willingdon Wealth Management bought a new position in shares of Genie Energy in the first quarter valued at approximately $26,000. JPMorgan Chase & Co. bought a new position in Genie Energy during the second quarter valued at $41,000. D. E. Shaw & Co. Inc. bought a new position in Genie Energy during the fourth quarter valued at $60,000. Deutsche Bank AG grew its holdings in Genie Energy by 538.5% during the fourth quarter. Deutsche Bank AG now owns 14,059 shares of the oil and gas producer’s stock valued at $84,000 after purchasing an additional 11,857 shares during the period. Finally, Bank of Montreal Can grew its holdings in Genie Energy by 4,986.3% during the first quarter. Bank of Montreal Can now owns 20,040 shares of the oil and gas producer’s stock valued at $171,000 after purchasing an additional 19,646 shares during the period. 20.16% of the stock is owned by institutional investors.

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.

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