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

Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $16.47 and last traded at $16.35, with a volume of 33302 shares trading hands. The stock had previously closed at $16.23.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Genesis Energy from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Royal Bank of Canada boosted their price target on 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 Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted 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 firm has a market capitalization of $1.93 billion, a PE ratio of -12.70 and a beta of 1.08. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The firm has a fifty day moving average price of $14.56 and a 200 day moving average price of $12.58.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.37). The business had revenue of $398.31 million for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The company's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.09) earnings per share.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.66 annualized dividend and a dividend yield of 4.19%. Genesis Energy's dividend payout ratio (DPR) is presently -12.67%.

Institutional Trading of Genesis Energy

A number of hedge funds have recently modified their holdings of the company. ING Groep NV lifted its position in shares of Genesis Energy by 12.1% during the 4th quarter. ING Groep NV now owns 855,000 shares of the pipeline company's stock worth $8,644,000 after buying an additional 92,300 shares during the period. JPMorgan Chase & Co. increased its holdings in Genesis Energy by 9.9% during the 4th 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 in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Genesis Energy during the 4th quarter valued at $404,000. Concurrent Investment Advisors LLC acquired a new stake in Genesis Energy during the 4th quarter valued at $920,000. Finally, Raymond James Financial Inc. acquired a new stake in Genesis Energy during the 4th quarter valued at $943,000. 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.