Genesis Energy (NYSE:GEL) Reaches New 52-Week High – Here’s What Happened

Genesis Energy, L.P. (NYSE:GEL) shares hit a new 52-week high on Tuesday . The company traded as high as $16.47 and last traded at $16.35, with a volume of 33302 shares changing hands. The stock had previously closed at $16.23.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GEL shares. Wall Street Zen downgraded Genesis Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Wells Fargo & Company raised Genesis Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $15.00 to $18.00 in a report on Monday, March 17th. Finally, Royal Bank of Canada raised their price objective on Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th.

Genesis Energy Price Performance

The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The stock’s 50 day moving average price is $14.52 and its two-hundred day moving average price is $12.46. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -13.07 and a beta of 1.08.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.37). The company had revenue of $398.31 million for the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share.

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Wednesday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is -12.67%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GEL. Jones Financial Companies Lllp acquired a new stake in shares of Genesis Energy during the 1st quarter worth approximately $108,000. F M Investments LLC purchased a new stake in Genesis Energy during the fourth quarter worth $122,000. Cetera Investment Advisers acquired a new stake in Genesis Energy during the first quarter valued at $193,000. Ameriprise Financial Inc. purchased a new position in Genesis Energy in the fourth quarter valued at $126,000. Finally, Arrow Investment Advisors LLC increased its holdings in Genesis Energy by 21.1% in the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company’s stock valued at $215,000 after buying an additional 2,381 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Company Profile

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.