Genesis Energy (NYSE:GEL) Hits New 12-Month High – Here’s Why

Genesis Energy, L.P. (NYSE:GEL)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $17.95 and last traded at $17.8250, with a volume of 8921 shares trading hands. The stock had previously closed at $17.67.

Wall Street Analyst Weigh In

Several analysts have recently commented on GEL shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genesis Energy in a research report on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $20.00 target price on shares of Genesis Energy in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Genesis Energy presently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Genesis Energy Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 19.90. The firm has a 50-day moving average price of $16.45 and a 200 day moving average price of $16.28. The firm has a market capitalization of $2.19 billion, a PE ratio of -4.25 and a beta of 0.84.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, February 12th. The pipeline company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.24). Genesis Energy had a negative return on equity of 9.84% and a negative net margin of 27.01%.The firm had revenue of $440.76 million for the quarter. During the same quarter last year, the firm posted ($0.58) earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year.

Genesis Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 4.0%. Genesis Energy’s payout ratio is -17.18%.

Institutional Investors Weigh In On Genesis Energy

Large investors have recently added to or reduced their stakes in the business. Fulcrum Asset Management LLP purchased a new position in Genesis Energy in the 3rd quarter valued at approximately $26,000. Maryland State Retirement & Pension System raised its stake in shares of Genesis Energy by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 104,917 shares of the pipeline company’s stock valued at $1,637,000 after acquiring an additional 1,647 shares in the last quarter. CWM LLC boosted its holdings in Genesis Energy by 126.5% in the third quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock valued at $52,000 after purchasing an additional 1,735 shares during the period. SG Americas Securities LLC grew its stake in Genesis Energy by 22.4% during the 3rd quarter. SG Americas Securities LLC now owns 9,546 shares of the pipeline company’s stock worth $160,000 after purchasing an additional 1,745 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in Genesis Energy during the 3rd quarter worth about $30,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

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.