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

Genie Energy Ltd. (NYSE:GNE) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Investors of record on Wednesday, August 14th will be given 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 of this dividend 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 %

Genie Energy stock traded up $0.22 during mid-day trading on Wednesday, reaching $15.38. 1,188 shares of the company’s stock traded hands, compared to its average volume of 142,878. The company has a market cap of $417.27 million, a price-to-earnings ratio of 30.24 and a beta of 0.15. The stock has a 50 day moving average of $15.44 and a two-hundred day moving average of $16.29. Genie Energy has a 12-month low of $14.00 and a 12-month high of $30.90.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Genie Energy from a “hold” rating to a “buy” rating in a research note 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.