Genie Energy Ltd - Class B said on August 7, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.30 annualized). Previously, the company paid $0.08 per share.
Shareholders of record as of August 14, 2023 will receive the payment on August 21, 2023.
At the current share price of $15.05 / share, the stock's dividend yield is 1.99%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.74%, the lowest has been 1.86%, and the highest has been 5.69%. The standard deviation of yields is 0.90 (n=190).
The current dividend yield is 1.95 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.13. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.12%.
What is the Fund Sentiment?
There are 130 funds or institutions reporting positions in Genie Energy Ltd - Class B. This is an increase of 16 owner(s) or 14.04% in the last quarter. Average portfolio weight of all funds dedicated to GNE is 0.05%, a decrease of 15.53%. Total shares owned by institutions increased in the last three months by 3.35% to 7,102K shares. 
The put/call ratio of GNE is 0.33, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 742K shares representing 2.70% ownership of the company. In it's prior filing, the firm reported owning 627K shares, representing an increase of 15.61%. The firm increased its portfolio allocation in GNE by 46.25% over the last quarter.
Renaissance Technologies holds 590K shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 620K shares, representing a decrease of 5.05%. The firm increased its portfolio allocation in GNE by 23.41% over the last quarter.
Old West Investment Management holds 381K shares representing 1.39% ownership of the company. No change in the last quarter.
Kahn Brothers Group holds 302K shares representing 1.10% ownership of the company. In it's prior filing, the firm reported owning 311K shares, representing a decrease of 2.81%. The firm increased its portfolio allocation in GNE by 1.36% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 293K shares representing 1.07% ownership of the company. In it's prior filing, the firm reported owning 298K shares, representing a decrease of 1.77%. The firm increased its portfolio allocation in GNE by 24.11% over the last quarter.
Genie Energy Background Information
(This description is provided by the company.)
Genie Energy Ltd.,is a global provider of energy services. The Genie Retail Energy division supplies electricity, including electricity from renewable resources, and natural gas to residential and small business customers in the United States. The Genie Retail Energy International division supplies customers in Europeand Asia. The Genie Energy Services division includes Diversegy, a commercial and industrial brokerage and consultative services company, and Genie Solar Energy and Prism Solar, which design, supply and install commercial solar solutions.
Additional reading:
- Press Release, dated August 7, 2023, reporting the results of operations for the quarter ended June 30, 2023.
- Genie Energy Announces Completion of Preferred Stock Redemption
- Genie Energy Ltd (NYSE: GNE) Investor Presentation June 2023 Safe Harbor Statement This presentation contains forward - looking statements. Statements that are not historical facts are forward - looking statements and such forward - looking statement
- Genie Energy Announces Full Redemption of Its Preferred Stock
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
