Genesis Energy (NYSE:GEL) Trading Down 4.8% – Here’s Why

Genesis Energy, L.P. (NYSE:GEL)’s share price traded down 4.8% on Friday . The company traded as low as $14.82 and last traded at $14.9030. 77,998 shares were traded during trading, a decline of 71% from the average session volume of 269,552 shares. The stock had previously closed at $15.66.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Genesis Energy Stock Down 4.4%

The firm’s 50 day simple moving average is $16.50 and its 200 day simple moving average is $16.68. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -78.70 and a beta of 0.63. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, May 7th. The pipeline company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.22). The firm had revenue of $446.56 million during the quarter, compared to analyst estimates of $446.56 million. Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. Genesis Energy’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($4.06) EPS.

Genesis Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.72 annualized dividend and a yield of 4.8%. Genesis Energy’s payout ratio is presently -378.95%.

Insiders Place Their Bets

In other Genesis Energy news, SVP Garland G. Gaspard bought 12,340 shares of the business’s stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $16.34 per share, with a total value of $201,635.60. Following the purchase, the senior vice president directly owned 36,881 shares of the company’s stock, valued at approximately $602,635.54. The trade was a 50.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.72% of the stock is owned by insiders.

Institutional Trading of Genesis Energy

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $107,285,000 after acquiring an additional 1,465,339 shares during the period. Morgan Stanley raised its holdings in Genesis Energy by 39.9% during the fourth quarter. Morgan Stanley now owns 4,054,770 shares of the pipeline company’s stock worth $63,254,000 after purchasing an additional 1,156,884 shares in the last quarter. Alps Advisors Inc. raised its holdings in Genesis Energy by 3.7% during the fourth quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company’s stock worth $388,587,000 after purchasing an additional 890,193 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Genesis Energy by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock worth $63,934,000 after purchasing an additional 478,530 shares in the last quarter. Finally, UBS Group AG raised its holdings in Genesis Energy by 31.3% during the fourth quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock worth $28,301,000 after purchasing an additional 432,771 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Company Profile

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.