Genesis Energy (NYSE:GEL) Hits New 52-Week Low – Here’s What Happened

Genesis Energy, L.P. (NYSE:GEL) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $14.35 and last traded at $14.38, with a volume of 1080781 shares. The stock had previously closed at $15.13.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Wells Fargo & Company cut their price target on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Genesis Energy Stock Performance

The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62. The company has a market capitalization of $1.76 billion, a PE ratio of -75.68 and a beta of 0.63. The stock’s fifty day simple moving average is $16.39 and its 200-day simple moving average is $16.67.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. The company had revenue of $446.56 million during the quarter, compared to analysts’ expectations of $446.56 million. During the same period last year, the business posted ($4.06) earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Thursday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is -378.95%.

Insider Buying and Selling at Genesis Energy

In other Genesis Energy news, SVP Garland G. Gaspard acquired 12,340 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $16.34 per share, with a total value of $201,635.60. Following the purchase, the senior vice president directly owned 36,881 shares in the company, valued at approximately $602,635.54. This trade represents a 50.28% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Genesis Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fulcrum Asset Management LLP acquired a new position in Genesis Energy in the 3rd quarter worth $26,000. Kestra Advisory Services LLC acquired a new position in Genesis Energy in the 4th quarter worth $30,000. Geneos Wealth Management Inc. acquired a new position in Genesis Energy in the 2nd quarter worth $49,000. Jones Financial Companies Lllp acquired a new position in Genesis Energy in the 1st quarter worth $108,000. Finally, Osaic Holdings Inc. lifted its holdings in Genesis Energy by 91.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock worth $133,000 after buying an additional 3,680 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

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.