Genesis Energy (NYSE:GEL) Hits New 52-Week High - Here's What Happened

Key Points

• Genesis Energy's share price reached a new 52-week high of $17.72 during mid-day trading, showing a significant increase from its previous close of $16.50.
• The company reported a quarterly earnings loss of ($0.12) per share, missing analyst expectations, with revenue down 12.3% compared to the previous year.
• Genesis Energy declared a quarterly dividend of $0.165 per share, resulting in an annualized yield of 3.8%, despite a negative dividend payout ratio.

Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $17.64 and last traded at $17.72, with a volume of 461403 shares changing hands. The stock had previously closed at $16.50.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GEL shares. Wall Street Zen upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Royal Bank Of Canada increased their price objective on shares of Genesis Energy from $15.00 to $18.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th.

Genesis Energy Trading Up 5.0%

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -3.36 and a beta of 1.05. The firm's 50 day moving average is $16.61 and its two-hundred day moving average is $14.29. The company has a quick ratio of 1.42, a current ratio of 1.48 and a debt-to-equity ratio of 18.33.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The business had revenue of $377.35 million for the quarter. Genesis Energy had a negative return on equity of 19.28% and a negative net margin of 20.98%. The firm's revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.25) EPS.

Genesis Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a $0.165 dividend. The ex-dividend date is Thursday, July 31st. This represents a $0.66 annualized dividend and a dividend yield of 3.8%. Genesis Energy's dividend payout ratio (DPR) is presently -12.67%.

Institutional Investors Weigh In On Genesis Energy

Several large investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its stake in shares of Genesis Energy by 16.6% in the first quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company's stock valued at $376,877,000 after purchasing an additional 3,422,967 shares during the period. Invesco Ltd. increased its stake in shares of Genesis Energy by 2.2% in the first quarter. Invesco Ltd. now owns 18,799,575 shares of the pipeline company's stock valued at $294,965,000 after purchasing an additional 408,927 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Genesis Energy by 28.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company's stock valued at $87,911,000 after purchasing an additional 1,257,712 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Genesis Energy by 9.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock valued at $47,169,000 after purchasing an additional 418,555 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Genesis Energy by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock valued at $63,934,000 after purchasing an additional 478,530 shares during the period. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Company Profile

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.

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