Genesis Energy (NYSE:GEL) Hits New 1-Year High - Here's Why

Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.85 and last traded at $16.69, with a volume of 312014 shares changing hands. The stock had previously closed at $16.51.

Analyst Ratings Changes

Several research firms have recently issued reports on GEL. Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $15.00 to $18.00 in a research note on Monday, March 17th. Royal Bank of Canada upped their price objective on Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Monday, March 17th. Finally, Wall Street Zen downgraded Genesis Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st.

Genesis Energy Price Performance

The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -13.51 and a beta of 1.03. The business's 50-day simple moving average is $14.85 and its two-hundred day simple moving average is $12.91. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

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

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Wednesday, April 30th. Genesis Energy's dividend payout ratio is presently -12.67%.

Hedge Funds Weigh In On Genesis Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new position in shares of Genesis Energy during the 1st quarter worth approximately $108,000. F M Investments LLC bought a new position in shares of Genesis Energy during the 4th quarter worth approximately $122,000. Ameriprise Financial Inc. bought a new position in shares of Genesis Energy during the 4th quarter worth approximately $126,000. Cetera Investment Advisers bought a new position in shares of Genesis Energy during the 1st quarter worth approximately $193,000. Finally, Arrow Investment Advisors LLC boosted its holdings 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 worth $215,000 after buying an additional 2,381 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.

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.