Genesis Energy (NYSE:GEL) Reaches New 1-Year High - Should You Buy?

Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.58 and last traded at $17.46, with a volume of 606875 shares. The stock had previously closed at $17.41.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GEL shares. Wall Street Zen upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Royal Bank Of Canada lifted their price target 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. Finally, Wells Fargo & Company upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $15.00 to $18.00 in a research report on Monday, March 17th.

Genesis Energy Stock Performance

The company has a quick ratio of 1.42, a current ratio of 1.48 and a debt-to-equity ratio of 18.33. The company's 50-day simple moving average is $16.18 and its 200-day simple moving average is $13.77. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -3.28 and a beta of 1.05.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.37). The business had revenue of $398.31 million during the quarter. Genesis Energy had a negative net margin of 20.98% and a negative return on equity of 19.28%. Genesis Energy's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.09) EPS.

Genesis Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $0.66 annualized dividend and a dividend yield of 3.87%. Genesis Energy's payout ratio is -12.67%.

Institutional Investors Weigh In On Genesis Energy

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Genesis Energy during the fourth quarter worth approximately $943,000. Tejara Capital Ltd bought a new stake in Genesis Energy during the fourth quarter worth approximately $3,205,000. Advisors Asset Management Inc. boosted its position in Genesis Energy by 6.3% during the fourth quarter. Advisors Asset Management Inc. now owns 221,191 shares of the pipeline company's stock worth $2,236,000 after purchasing an additional 13,068 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Genesis Energy during the fourth quarter worth approximately $404,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Genesis Energy by 9.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock worth $47,169,000 after buying an additional 418,555 shares during the last quarter. Institutional investors own 66.82% of the company's stock.

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.