Genesis Energy (NYSE:GEL) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Genesis Energy shares rose above their 200-day moving average, reaching $16.61 before closing at $16.49, compared with the 200-day average of $16.23.
• Analysts maintain a generally positive outlook, with two Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $18.00.
• The company reported quarterly EPS of $0.26, well above the $0.02 consensus estimate, and increased its quarterly dividend to $0.20 per share, equivalent to a 4.9% annualized yield.

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.23 and traded as high as $16.61. Genesis Energy shares last traded at $16.49, with a volume of 201,591 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company reduced their target price on Genesis Energy from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of Genesis Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada reduced their price objective on shares of Genesis Energy from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Genesis Energy Stock Performance

The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 24.31. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 86.79 and a beta of 0.67. The stock has a fifty day moving average price of $15.15 and a 200-day moving average price of $16.23.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The pipeline company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.02 by $0.24. Genesis Energy had a return on equity of 55.96% and a net margin of 4.29%.The business had revenue of $532.00 million for the quarter, compared to analyst estimates of $532.00 million. During the same quarter in the previous year, the firm earned ($0.12) EPS.

Genesis Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a boost from Genesis Energy's previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.9%. Genesis Energy's dividend payout ratio (DPR) is 421.05%.

Institutional Investors Weigh In On Genesis Energy

Several institutional investors and hedge funds have recently made changes to their positions in GEL. Cetera Investment Advisers increased its position in shares of Genesis Energy by 6.7% during the 1st quarter. Cetera Investment Advisers now owns 21,838 shares of the pipeline company's stock worth $389,000 after purchasing an additional 1,371 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in Genesis Energy during the 3rd quarter valued at about $26,000. Maryland State Retirement & Pension System boosted its position in Genesis Energy by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 104,917 shares of the pipeline company's stock valued at $1,637,000 after buying an additional 1,647 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Genesis Energy in the fourth quarter valued at about $30,000. Finally, ARS Investment Partners LLC boosted its position in Genesis Energy by 6.7% in the fourth quarter. ARS Investment Partners LLC now owns 32,000 shares of the pipeline company's stock valued at $499,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Company Profile

Genesis Energy LP NYSE: GEL is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company's primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy's operations are organized into several key business segments.

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