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

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

Analyst Ratings Changes

Several analysts recently commented on GEL shares. Wall Street Zen cut Genesis Energy from a "hold" rating to a "sell" rating in a research 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 Price Performance

The stock has a 50 day simple moving average of $14.69 and a two-hundred day simple moving average of $12.83. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -13.48 and a beta of 1.03. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings data 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 company had revenue of $398.31 million for the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The business's revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) earnings per share.

Genesis Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Wednesday, April 30th. Genesis Energy's dividend payout ratio (DPR) is currently -12.67%.

Hedge Funds Weigh In On Genesis Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new position in shares of Genesis Energy in the 4th quarter valued at $920,000. ING Groep NV lifted its stake in shares of Genesis Energy by 12.1% in the 4th quarter. ING Groep NV now owns 855,000 shares of the pipeline company's stock valued at $8,644,000 after purchasing an additional 92,300 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock valued at $369,000 after purchasing an additional 1,584 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Genesis Energy in the 4th quarter valued at $943,000. Finally, BBR Partners LLC lifted its stake in shares of Genesis Energy by 20.9% in the 4th quarter. BBR Partners LLC now owns 58,583 shares of the pipeline company's stock valued at $592,000 after purchasing an additional 10,122 shares during the last quarter. 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.