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

Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $17.48 and last traded at $17.42, with a volume of 1326 shares changing hands. The stock had previously closed at $17.32.

Analyst Ratings Changes

GEL has been the topic of several research reports. Wells Fargo & Company upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $15.00 to $18.00 in a research report on Monday, March 17th. Wall Street Zen upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Royal Bank Of Canada lifted their target price 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.

Genesis Energy Stock Performance

The company has a market cap of $2.14 billion, a PE ratio of -3.35 and a beta of 1.05. The business's 50-day moving average is $15.84 and its 200 day moving average is $13.54. The company has a debt-to-equity ratio of 18.33, a quick ratio of 1.42 and a current ratio of 1.48.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.37). The firm had revenue of $398.31 million during 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 was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share.

Genesis Energy Dividend Announcement

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

Institutional Investors Weigh In On Genesis Energy

Large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in Genesis Energy in the 1st quarter worth $108,000. F M Investments LLC bought a new stake in shares of Genesis Energy during the 4th quarter valued at about $122,000. Ameriprise Financial Inc. bought a new stake in shares of Genesis Energy during the 4th quarter valued at about $126,000. Cetera Investment Advisers bought a new stake in shares of Genesis Energy during the 1st quarter valued at about $193,000. Finally, Arrow Investment Advisors LLC boosted its stake in shares of Genesis Energy by 21.1% during 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. Institutional investors 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.