Genesis Energy (NYSE:GEL) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Genesis Energy, L.P. (NYSE:GEL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.23 and traded as high as $16.61. Genesis Energy shares last traded at $16.49, with a volume of 201,591 shares trading hands.

Analyst Ratings Changes

GEL has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Weiss Ratings raised Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada decreased their target price on Genesis Energy from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Genesis Energy has an average rating of “Moderate Buy” and an average target price of $18.00.

Genesis Energy Stock Performance

The business has a fifty day simple moving average of $15.20 and a two-hundred day simple moving average of $16.22. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 24.31. The company has a market cap of $1.97 billion, a P/E ratio of 85.00 and a beta of 0.67.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, August 6th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.24. Genesis Energy had a return on equity of 55.96% and a net margin of 4.29%.The business had revenue of $532.00 million during the quarter, compared to the consensus estimate of $532.00 million. During the same period in the previous year, the company posted ($0.12) EPS.

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.20 per share. The ex-dividend date was Friday, July 31st. This represents a $0.80 annualized dividend and a dividend yield of 5.0%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.18. Genesis Energy’s dividend payout ratio is 421.05%.

Hedge Funds Weigh In On Genesis Energy

Several institutional investors and hedge funds have recently bought and sold shares of GEL. Fulcrum Asset Management LLP purchased a new stake in Genesis Energy in the third quarter worth about $26,000. Kestra Advisory Services LLC bought a new stake in Genesis Energy during the 4th quarter worth approximately $30,000. Geneos Wealth Management Inc. purchased a new position in Genesis Energy during the second quarter valued at approximately $49,000. Jones Financial Companies Lllp bought a new position in shares of Genesis Energy in the first quarter worth approximately $108,000. Finally, Osaic Holdings Inc. increased its stake in shares of Genesis Energy by 91.4% in the second quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock worth $133,000 after purchasing an additional 3,680 shares in the last quarter. 66.82% of the stock is currently 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.