Genesis Energy (NYSE:GEL) Hits New 1-Year High - Here's Why

Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $15.18 and last traded at $15.00, with a volume of 1332879 shares. The stock had previously closed at $14.36.

Wall Street Analyst Weigh In

GEL has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $15.00 to $18.00 in a report on Monday, March 17th. Royal Bank of Canada boosted their price objective on Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Monday, March 17th.

Genesis Energy Trading Up 2.6 %

The stock has a market capitalization of $1.89 billion, a P/E ratio of -12.46 and a beta of 1.92. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The company has a 50-day moving average price of $11.92 and a 200 day moving average price of $11.94.

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

Remove Ads

Genesis Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy's dividend payout ratio is currently -53.23%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors grew its stake in Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company's stock valued at $424,000 after purchasing an additional 900 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Genesis Energy by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock valued at $369,000 after purchasing an additional 1,584 shares during the last quarter. Stifel Financial Corp grew its stake in Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company's stock valued at $250,000 after purchasing an additional 1,819 shares during the last quarter. Mariner LLC grew its stake in Genesis Energy by 7.0% during the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock valued at $359,000 after purchasing an additional 2,321 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Genesis Energy by 6.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company's stock valued at $488,000 after purchasing an additional 2,717 shares during the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

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.