Genesis Energy (NYSE:GEL) Shares Down 2.1% – Time to Sell?

Genesis Energy, L.P. (NYSE:GEL) was down 2.1% on Thursday . The stock traded as low as $10.10 and last traded at $10.13. Approximately 49,797 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 389,979 shares. The stock had previously closed at $10.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GEL. Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price objective on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th.

Genesis Energy Stock Down 3.0 %

The stock has a 50-day moving average of $11.53 and a 200 day moving average of $12.88. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The company has a market capitalization of $1.23 billion, a PE ratio of -13.57 and a beta of 2.12.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The business had revenue of $714.30 million during the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same quarter in the prior year, the business posted $0.29 earnings per share.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.165 dividend. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.57%. Genesis Energy’s dividend payout ratio is presently -89.19%.

Hedge Funds Weigh In On Genesis Energy

Large investors have recently bought and sold shares of the stock. Millburn Ridgefield Corp purchased a new stake in Genesis Energy in the 3rd quarter worth approximately $59,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Genesis Energy in the third quarter worth about $139,000. Stifel Financial Corp increased its position in Genesis Energy by 10.8% during the 3rd 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 in the last quarter. Van ECK Associates Corp boosted its stake in Genesis Energy by 17.4% in the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 3,073 shares in the last quarter. Finally, Axiom Advisory LLC lifted its position in Genesis Energy by 2.8% in the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after acquiring an additional 794 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

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.