Shares of Genesis Energy, L.P. (NYSE:GEL) were up 5.8% during mid-day trading on Friday . The stock traded as high as $22.42 and last traded at $22.32, approximately 1,083,700 shares changed hands during mid-day trading. An increase of 103% from the average daily volume of 532,685 shares. The stock had previously closed at $21.10.
Several equities research analysts recently issued reports on GEL shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Genesis Energy in a research note on Thursday, August 8th. Zacks Investment Research downgraded shares of Genesis Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Raymond James downgraded shares of Genesis Energy from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 26th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Genesis Energy from a “buy” rating to a “hold” rating in a report on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Genesis Energy presently has a consensus rating of “Hold” and an average price target of $25.50.
The stock has a market cap of $2.59 billion, a P/E ratio of -279.00 and a beta of 1.26. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 2.19. The firm’s fifty day moving average is $21.17 and its 200 day moving average is $22.10.
Genesis Energy (NYSE:GEL) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $634.80 million for the quarter, compared to the consensus estimate of $685.95 million. Genesis Energy had a net margin of 1.15% and a return on equity of 7.09%. The business’s quarterly revenue was down 15.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. Research analysts forecast that Genesis Energy, L.P. will post 0.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $2.20 annualized dividend and a yield of 9.86%. Genesis Energy’s dividend payout ratio (DPR) is presently -2,750.00%.
In other news, VP Ryan S. Sims bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $19.94 per share, for a total transaction of $59,820.00. Following the acquisition, the vice president now directly owns 11,300 shares of the company’s stock, valued at approximately $225,322. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Kristen O. Jesulaitis acquired 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $19.97 per share, for a total transaction of $99,850.00. The disclosure for this purchase can be found here. Insiders purchased a total of 13,000 shares of company stock worth $260,270 in the last quarter. Insiders own 0.72% of the company’s stock.
Several large investors have recently bought and sold shares of GEL. Moneta Group Investment Advisors LLC increased its holdings in shares of Genesis Energy by 2,404.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 41,917 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 40,243 shares during the period. Zions Bancorporation N.A. bought a new position in shares of Genesis Energy during the 1st quarter worth about $57,000. Belpointe Asset Management LLC increased its holdings in shares of Genesis Energy by 12.7% during the 1st quarter. Belpointe Asset Management LLC now owns 8,001 shares of the pipeline company’s stock worth $186,000 after purchasing an additional 900 shares during the period. GWM Advisors LLC increased its holdings in shares of Genesis Energy by 97.2% during the 1st quarter. GWM Advisors LLC now owns 23,070 shares of the pipeline company’s stock worth $196,000 after purchasing an additional 11,370 shares during the period. Finally, Penserra Capital Management LLC bought a new position in shares of Genesis Energy during the 1st quarter worth about $210,000. Institutional investors own 86.40% of the company’s stock.
About Genesis Energy (NYSE:GEL)
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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