Genesis Energy (NYSE:GEL) Sets New 1-Year High - Here's What Happened

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) reached a new 52-week high on Wednesday . The company 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 Ratings Changes

A number of equities analysts have recently weighed in on GEL shares. Wall Street Zen upgraded Genesis Energy from a "sell" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Finally, Royal Bank Of Canada increased their target price on Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th.

Genesis Energy Trading Down 0.2%

The company has a 50 day moving average of $15.97 and a 200-day moving average of $13.62. The company has a debt-to-equity ratio of 18.33, a quick ratio of 1.42 and a current ratio of 1.48. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -3.35 and a beta of 1.05.

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

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Wednesday, April 30th. Genesis Energy's dividend payout ratio is currently -12.67%.

Institutional Investors Weigh In On Genesis Energy

A number of hedge funds have recently bought and sold shares of the stock. Sowell Financial Services LLC raised its position in Genesis Energy by 1.4% in the 1st quarter. Sowell Financial Services LLC now owns 93,651 shares of the pipeline company's stock valued at $1,469,000 after purchasing an additional 1,250 shares in the last quarter. Pinnacle Holdings LLC raised its position in Genesis Energy by 0.7% in the 1st quarter. Pinnacle Holdings LLC now owns 236,600 shares of the pipeline company's stock valued at $3,712,000 after purchasing an additional 1,710 shares in the last quarter. Mariner LLC raised its position in Genesis Energy by 7.0% in the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock valued at $359,000 after purchasing an additional 2,321 shares in the last quarter. Arrow Investment Advisors LLC raised its position in Genesis Energy by 21.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock valued at $215,000 after purchasing an additional 2,381 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of Genesis Energy by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 94,480 shares of the pipeline company's stock valued at $1,482,000 after acquiring an additional 2,585 shares during the last quarter. Institutional investors and hedge funds 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.