Genie Energy Ltd. (NYSE:GNE) Announces $0.07 Quarterly Dividend

Genie Energy Ltd. (NYSE:GNE) declared a quarterly dividend on Thursday, August 6th. Investors of record on Friday, August 14th will be paid a dividend of 0.075 per share by the oil and gas producer on Monday, August 24th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, August 14th.

Genie Energy has decreased its dividend by an average of 0.0%annually over the last three years.

Genie Energy Stock Up 3.2%

GNE stock opened at $14.58 on Friday. The company has a market cap of $384.82 million, a price-to-earnings ratio of 29.75 and a beta of 0.20. Genie Energy has a twelve month low of $12.69 and a twelve month high of $18.92. The business has a 50 day moving average price of $14.18 and a two-hundred day moving average price of $14.12. The company has a quick ratio of 2.44, a current ratio of 2.54 and a debt-to-equity ratio of 0.03.

Genie Energy (NYSE:GNE) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.18. The company had revenue of $100.40 million for the quarter, compared to analysts’ expectations of $104.57 million. Genie Energy had a return on equity of 9.72% and a net margin of 3.22%.

Wall Street Analyst Weigh In

Several analysts have issued reports on GNE shares. Weiss Ratings raised shares of Genie Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Freedom Capital upgraded shares of Genie Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Finally, Wall Street Zen downgraded Genie Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Genie Energy has an average rating of “Buy”.

About Genie Energy

Genie Energy Ltd. (NYSE: GNE) is a diversified energy holding company that operates through two primary segments: upstream oil and natural gas exploration and retail energy supply. Its exploration arm, Genie Energy E&P, pursues development of oil shale resources and conventional hydrocarbon deposits, holding licenses for projects in regions such as Israel’s Shefela basin and Jordan’s oil shale formations. The division also explores select opportunities in North America, leveraging technical partnerships to advance resource evaluation and pilot production programs.

Genie Retail Energy provides electricity and natural gas to residential and small commercial customers under regulated and deregulated frameworks.