Zacks Investment Research upgraded shares of Genie Energy (NYSE:GNE) from a hold rating to a buy rating in a report released on Thursday, Zacks.com reports. They currently have $13.00 price target on the oil and gas producer’s stock.
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. “
Other analysts have also issued research reports about the company. ValuEngine raised Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Noble Financial initiated coverage on Genie Energy in a report on Wednesday, March 20th. They issued a hold rating for the company.
Shares of GNE opened at $11.09 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.02 and a debt-to-equity ratio of 0.03. Genie Energy has a one year low of $5.07 and a one year high of $11.98. The company has a market capitalization of $300.44 million, a price-to-earnings ratio of 12.32 and a beta of 1.41. The business has a fifty day moving average price of $10.25.
Genie Energy (NYSE:GNE) last issued its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.16. Genie Energy had a return on equity of 37.04% and a net margin of 8.18%. The company had revenue of $86.62 million during the quarter, compared to analyst estimates of $72.40 million. On average, research analysts anticipate that Genie Energy will post 0.8 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Willingdon Wealth Management bought a new stake in Genie Energy during the first quarter valued at about $26,000. D. E. Shaw & Co. Inc. bought a new stake in Genie Energy during the fourth quarter valued at about $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. 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. Finally, First Trust Advisors LP grew its holdings in Genie Energy by 20.8% during the fourth quarter. First Trust Advisors LP now owns 33,771 shares of the oil and gas producer’s stock valued at $204,000 after purchasing an additional 5,811 shares during the period. 19.69% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Genie Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genie Energy and related companies with MarketBeat.com's FREE daily email newsletter.