Genesis Energy (NYSE:GEL) Trading Up 7.7% – Here’s Why

Shares of Genesis Energy, L.P. (NYSE:GEL) shot up 7.7% during mid-day trading on Thursday . The stock traded as high as $11.16 and last traded at $11.21. 47,935 shares were traded during trading, a decline of 93% from the average session volume of 685,460 shares. The stock had previously closed at $10.41.

Wall Street Analysts Forecast Growth

Separately, Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st.

Genesis Energy Price Performance

The firm has a market capitalization of $1.46 billion, a P/E ratio of -16.09 and a beta of 2.13. The business’s fifty day moving average is $10.54 and its 200 day moving average is $12.00. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 5.54%. The ex-dividend date was Friday, January 31st. Genesis Energy’s dividend payout ratio is -89.19%.

Institutional Investors Weigh In On Genesis Energy

Several institutional investors and hedge funds have recently modified their holdings of GEL. BBR Partners LLC acquired a new position in shares of Genesis Energy during the 3rd quarter valued at about $648,000. Manning & Napier Advisors LLC increased its holdings in shares of Genesis Energy by 40.0% during the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock worth $3,538,000 after purchasing an additional 100,000 shares during the period. Creative Planning raised its position in shares of Genesis Energy by 1.9% during the third quarter. Creative Planning now owns 3,105,454 shares of the pipeline company’s stock valued at $41,520,000 after buying an additional 59,263 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Genesis Energy by 10.8% in the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after buying an additional 1,819 shares during the period. Finally, Murchinson Ltd. bought a new position in Genesis Energy during the third quarter valued at about $1,005,000. 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.