Genesis Energy (NYSE:GEL) Sees Large Volume Increase – Here’s What Happened

Shares of Genesis Energy, L.P. (NYSE:GEL) saw unusually-high trading volume on Tuesday . Approximately 222,345 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 285,798 shares.The stock last traded at $15.6090 and had previously closed at $15.51.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Genesis Energy in a report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Genesis Energy in a report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Genesis Energy Price Performance

The company has a debt-to-equity ratio of 19.90, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -3.25 and a beta of 0.82. The stock’s fifty day moving average price is $15.68 and its 200-day moving average price is $16.34.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, October 30th. The pipeline company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.18). Genesis Energy had a negative return on equity of 28.39% and a negative net margin of 26.61%.The firm had revenue of $414.00 million during the quarter. During the same period last year, the company earned ($0.32) earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a dividend of $0.165 per share. The ex-dividend date was Friday, October 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.2%. Genesis Energy’s payout ratio is currently -13.72%.

Institutional Investors Weigh In On Genesis Energy

Institutional investors have recently bought and sold shares of the business. Fulcrum Asset Management LLP purchased a new position in Genesis Energy during the 3rd quarter valued at about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Genesis Energy by 29.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock worth $107,285,000 after purchasing an additional 1,465,339 shares during the period. Hilltop Holdings Inc. grew its position in Genesis Energy by 53.9% during the third quarter. Hilltop Holdings Inc. now owns 47,850 shares of the pipeline company’s stock valued at $800,000 after purchasing an additional 16,750 shares in the last quarter. Raymond James Financial Inc. increased its stake in Genesis Energy by 24.9% in the 3rd quarter. Raymond James Financial Inc. now owns 71,156 shares of the pipeline company’s stock valued at $1,189,000 after buying an additional 14,193 shares during the period. Finally, Virtu Financial LLC acquired a new position in Genesis Energy in the 3rd quarter valued at approximately $170,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

About Genesis Energy

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.