Genie Energy Ltd. (NYSE:GNE) Declares Quarterly Dividend of $0.08

Genie Energy Ltd. (NYSE:GNE) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Wednesday, August 14th will be paid a dividend of 0.075 per share by the oil and gas producer on Thursday, August 22nd. This represents a $0.30 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, August 14th.

Genie Energy has decreased its dividend payment by an average of 3.1% annually over the last three years.

Genie Energy Stock Up 1.5 %

GNE stock traded up $0.22 during trading on Wednesday, reaching $15.38. The stock had a trading volume of 1,188 shares, compared to its average volume of 142,878. Genie Energy has a one year low of $14.00 and a one year high of $30.90. The company’s 50 day moving average is $15.44 and its two-hundred day moving average is $16.29. The company has a market capitalization of $417.27 million, a price-to-earnings ratio of 30.24 and a beta of 0.15.

Genie Energy (NYSE:GNE) last released its earnings results on Wednesday, May 8th. The oil and gas producer reported $0.33 earnings per share for the quarter. Genie Energy had a net margin of 2.99% and a return on equity of 24.06%. The firm had revenue of $119.69 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Genie Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

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.