Genesis Energy (NYSE:GEL) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Genesis Energy's shares traded above their 200-day moving average at $15.87, with a high of $16.19 during recent trading.
• Several analysts upgraded Genesis Energy's ratings, with price targets ranging from $19.00 to $20.00, indicating a consensus target price of $19.50.
• The company missed quarterly earnings expectations, reporting a loss of ($0.12) per share and a negative net margin of 24.19%, while declaring a quarterly dividend of $0.165.

Genesis Energy, L.P. (NYSE:GEL - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.97 and traded as high as $16.19. Genesis Energy shares last traded at $15.87, with a volume of 332,594 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEL. Royal Bank Of Canada lifted their price objective on Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Genesis Energy in a research report on Saturday, September 27th. Wells Fargo & Company lifted their price objective on Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.50.

Genesis Energy Stock Down 1.3%

The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 18.85. The company has a market capitalization of $1.94 billion, a P/E ratio of -3.12 and a beta of 1.15. The company has a 50-day moving average of $16.74 and a two-hundred day moving average of $15.97.

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

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a $0.165 dividend. The ex-dividend date was Thursday, July 31st. This represents a $0.66 annualized dividend and a dividend yield of 4.2%. Genesis Energy's payout ratio is currently -12.99%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. raised its stake in shares of Genesis Energy by 91.4% in the second quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company's stock worth $133,000 after purchasing an additional 3,680 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in Genesis Energy during the second quarter valued at $49,000. HRT Financial LP purchased a new stake in Genesis Energy during the second quarter valued at $1,923,000. BNP Paribas Financial Markets increased its position in Genesis Energy by 26.1% during the second quarter. BNP Paribas Financial Markets now owns 208,541 shares of the pipeline company's stock valued at $3,593,000 after acquiring an additional 43,196 shares during the last quarter. Finally, Callodine Capital Management LP increased its position in Genesis Energy by 4.5% during the second quarter. Callodine Capital Management LP now owns 470,287 shares of the pipeline company's stock valued at $8,103,000 after acquiring an additional 20,287 shares during the last quarter. Hedge funds and other 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.

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