Genesis Energy (NYSE:GEL) Sets New 52-Week High - Here's Why

Shares of Genesis Energy, L.P. (NYSE:GEL - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.87 and last traded at $15.73, with a volume of 749343 shares trading hands. The stock had previously closed at $15.46.

Wall Street Analyst Weigh In

GEL has been the topic of a number of recent research reports. 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. Wells Fargo & Company upgraded Genesis Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $15.00 to $18.00 in a research report on Monday, March 17th.

Genesis Energy Price Performance

The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -12.60 and a beta of 1.92. The business has a fifty day moving average price of $12.44 and a 200 day moving average price of $12.03.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.53). The company had revenue of $725.55 million during the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%.

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Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 4.23%. Genesis Energy's dividend payout ratio (DPR) is presently -53.23%.

Institutional Investors Weigh In On Genesis Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Genesis Energy by 1.0% in the 4th quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company's stock valued at $185,929,000 after buying an additional 178,369 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Genesis Energy by 9.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock valued at $47,169,000 after acquiring an additional 418,555 shares during the last quarter. Chickasaw Capital Management LLC lifted its holdings in shares of Genesis Energy by 0.4% during the fourth quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company's stock worth $38,776,000 after purchasing an additional 15,027 shares during the period. Jefferies Financial Group Inc. grew its stake in shares of Genesis Energy by 1.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company's stock worth $15,693,000 after purchasing an additional 20,000 shares during the last quarter. Finally, ING Groep NV increased its holdings in Genesis Energy by 12.1% in the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company's stock valued at $8,644,000 after purchasing an additional 92,300 shares during the period. Institutional investors own 66.82% of the company's stock.

About Genesis Energy

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.