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

Key Points

• Genesis Energy's stock (NYSE:GEL) recently crossed above its 200-day moving average, suggesting potential upward momentum, with the current trading price at $16.63.
• Analysts have raised their price targets for Genesis Energy, with Wells Fargo increasing it to $19.00 and Royal Bank of Canada to $20.00, indicating strong confidence in the stock's performance.
• The company reported a **loss of ($0.12)** EPS for the last quarter, missing estimates, while also revealing a quarterly dividend of **$0.165** with a yield of **4.0%**.

Shares of Genesis Energy, L.P. (NYSE:GEL - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.92 and traded as high as $16.67. Genesis Energy shares last traded at $16.63, with a volume of 103,069 shares.

Analysts Set New Price Targets

A number of analysts recently weighed in on GEL shares. Wells Fargo & Company increased their price objective on shares of Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Royal Bank Of Canada raised their price target on Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded Genesis Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, Genesis Energy has a consensus rating of "Buy" and an average price target of $19.50.

Genesis Energy Stock Performance

The stock has a market cap of $2.04 billion, a PE ratio of -3.27 and a beta of 1.23. 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 firm has a 50 day moving average price of $16.73 and a 200 day moving average price of $15.92.

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

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.0%. The ex-dividend date was Thursday, July 31st. Genesis Energy's payout ratio is -12.99%.

Hedge Funds Weigh In On Genesis Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEL. Alps Advisors Inc. grew its stake in Genesis Energy by 16.6% in the first quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company's stock valued at $376,877,000 after purchasing an additional 3,422,967 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Genesis Energy by 28.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company's stock worth $87,911,000 after acquiring an additional 1,257,712 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in Genesis Energy in the first quarter worth about $19,336,000. Goldman Sachs Group Inc. boosted its holdings in Genesis Energy by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock worth $63,934,000 after acquiring an additional 478,530 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Genesis Energy by 2.2% in the first quarter. Invesco Ltd. now owns 18,799,575 shares of the pipeline company's stock worth $294,965,000 after acquiring an additional 408,927 shares in the last quarter. Hedge funds and other 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.

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