Genesis Energy (NYSE:GEL) Hits New 52-Week High – Here’s Why

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GEL shares. Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Royal Bank of Canada boosted their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th.

Genesis Energy Trading Up 1.8 %

The company has a 50 day simple moving average of $12.03 and a two-hundred day simple moving average of $11.94. 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 firm has a market cap of $1.93 billion, a PE ratio of -12.69 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last issued its quarterly 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). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The business had revenue of $725.55 million during the quarter.

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 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 4.20%. Genesis Energy’s dividend payout ratio (DPR) is presently -53.23%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Millburn Ridgefield Corp acquired a new stake in shares of Genesis Energy in the third quarter valued at about $59,000. F M Investments LLC acquired a new position in Genesis Energy during the fourth quarter worth $122,000. Ameriprise Financial Inc. purchased a new position in shares of Genesis Energy in the fourth quarter valued at approximately $126,000. Stifel Financial Corp boosted its holdings 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. Finally, Mutual Advisors LLC grew its holdings in Genesis Energy by 101.8% during the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock worth $341,000 after acquiring an additional 16,099 shares in 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.