Genesis Energy (NYSE:GEL) Hits New 12-Month High – What’s Next?

Genesis Energy, L.P. (NYSE:GEL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $18.16 and last traded at $17.68, with a volume of 273581 shares changing hands. The stock had previously closed at $18.04.

Analyst Ratings Changes

A number of research firms have recently weighed in on GEL. Weiss Ratings reissued 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 price objective 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.50.

Genesis Energy Stock Up 1.7%

The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 19.59. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -4.25 and a beta of 0.84. The stock has a 50 day moving average of $16.69 and a 200 day moving average of $16.31.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, February 12th. The pipeline company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.24). The business had revenue of $440.76 million during the quarter. Genesis Energy had a negative return on equity of 10.04% and a negative net margin of 27.01%.The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.58) earnings per share.

Genesis Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, January 30th. This is an increase from Genesis Energy’s previous quarterly dividend of $0.17. Genesis Energy’s dividend payout ratio (DPR) is currently -17.18%.

Hedge Funds Weigh In On Genesis Energy

Several hedge funds and other institutional investors have recently modified their holdings of GEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Genesis Energy by 29.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock worth $107,285,000 after acquiring an additional 1,465,339 shares during the last quarter. Morgan Stanley boosted its stake in Genesis Energy by 39.9% during the 4th quarter. Morgan Stanley now owns 4,054,770 shares of the pipeline company’s stock valued at $63,254,000 after purchasing an additional 1,156,884 shares during the period. ING Groep NV grew its position in Genesis Energy by 63.5% in the 3rd quarter. ING Groep NV now owns 2,375,800 shares of the pipeline company’s stock worth $39,700,000 after purchasing an additional 922,600 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Genesis Energy by 3.7% in the fourth quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company’s stock valued at $388,587,000 after purchasing an additional 890,193 shares during the period. Finally, Miller Howard Investments Inc. NY raised its holdings in shares of Genesis Energy by 37.8% during the third quarter. Miller Howard Investments Inc. NY now owns 2,051,440 shares of the pipeline company’s stock valued at $34,280,000 after buying an additional 562,850 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

About Genesis Energy

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.