Genesis Energy (NYSE:GEL) Sets New 12-Month High - Should You Buy?

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) reached a new 52-week high 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 Upgrades and Downgrades

A number of analysts recently weighed in on GEL shares. Wall Street Zen downgraded Genesis Energy from a "hold" rating to a "sell" rating in a report on Saturday. Wells Fargo & Company increased their price objective on Genesis Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Friday. Finally, Royal Bank Of Canada increased their price objective on Genesis Energy from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Friday.

Genesis Energy Stock Performance

The company has a debt-to-equity ratio of 18.85, a quick ratio of 0.85 and a current ratio of 0.94. The stock has a fifty day simple moving average of $16.69 and a two-hundred day simple moving average of $14.46. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -3.41 and a beta of 1.09.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%. The business had revenue of $377.35 million for the quarter. During the same period in the prior year, the firm posted ($0.25) EPS. The company's revenue for the quarter was down 12.3% on a year-over-year basis.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Thursday, July 31st. Genesis Energy's dividend payout ratio (DPR) is presently -12.99%.

Institutional Trading of Genesis Energy

A number of large investors have recently bought and sold shares of GEL. Alps Advisors Inc. boosted its position in shares of Genesis Energy by 16.6% during the 1st quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company's stock worth $376,877,000 after purchasing an additional 3,422,967 shares in the last quarter. Invesco Ltd. boosted its position in shares of Genesis Energy by 2.2% during the 1st quarter. Invesco Ltd. now owns 18,799,575 shares of the pipeline company's stock worth $294,965,000 after purchasing an additional 408,927 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Genesis Energy by 28.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company's stock worth $87,911,000 after purchasing an additional 1,257,712 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock worth $47,169,000 after purchasing an additional 418,555 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Genesis Energy by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock worth $63,934,000 after purchasing an additional 478,530 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.