Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $12.84, but opened at $13.63. Genesis Energy shares last traded at $13.08, with a volume of 347,954 shares changing hands.
Wall Street Analyst Weigh In
Separately, Wells Fargo & Company raised their price target on Genesis Energy from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Wednesday.
Get Our Latest Research Report on Genesis Energy
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 capitalization of $1.58 billion, a PE ratio of -10.41 and a beta of 1.92. The company's 50-day simple moving average is $11.06 and its 200-day simple moving average is $11.90.
Genesis Energy (NYSE:GEL - Get Free Report) last announced its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.53). The business had revenue of $725.55 million for the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%.
Genesis Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy's payout ratio is currently -53.23%.
Institutional Investors Weigh In On Genesis Energy
Several hedge funds have recently modified their holdings of GEL. Millburn Ridgefield Corp purchased a new position in Genesis Energy during the 3rd quarter worth $59,000. F M Investments LLC acquired a new position in shares of Genesis Energy during the fourth quarter worth about $122,000. Ameriprise Financial Inc. purchased a new position in Genesis Energy during the fourth quarter worth about $126,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Genesis Energy in the third quarter valued at about $139,000. Finally, Stifel Financial Corp lifted its position in Genesis Energy by 10.8% in the third 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 period. 66.82% of the stock is owned by institutional investors and hedge funds.
About Genesis Energy
(
Get Free Report)
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.
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