Genesis Energy (NYSE:GEL) Sets New 1-Year Low – Here’s What Happened

Genesis Energy, L.P. (NYSE:GEL)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $13.80 and last traded at $14.4210, with a volume of 3043320 shares changing hands. The stock had previously closed at $14.47.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GEL shares. Wells Fargo & Company dropped 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 cut shares of Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Genesis Energy Price Performance

The company has a debt-to-equity ratio of 25.62, a current ratio of 0.98 and a quick ratio of 0.92. The firm has a market capitalization of $1.77 billion, a P/E ratio of -75.89 and a beta of 0.63. The firm’s 50 day simple moving average is $15.99 and its two-hundred day simple moving average is $16.62.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). The company had revenue of $446.56 million for the quarter, compared to the consensus estimate of $446.56 million. Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted ($4.06) earnings per share.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 5.0%. The ex-dividend date was Thursday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is presently -378.95%.

Insider Buying and Selling at Genesis Energy

In related news, SVP Garland G. Gaspard acquired 12,340 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was purchased at an average price of $16.34 per share, with a total value of $201,635.60. Following the completion of the purchase, the senior vice president owned 36,881 shares in the company, valued at $602,635.54. This trade represents a 50.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Genesis Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEL. Fulcrum Asset Management LLP purchased a new stake in Genesis Energy during the 3rd quarter valued at $26,000. Kestra Advisory Services LLC purchased a new position in shares of Genesis Energy in the fourth quarter valued at about $30,000. Geneos Wealth Management Inc. bought a new position in shares of Genesis Energy during the second quarter valued at about $49,000. Jones Financial Companies Lllp bought a new position in shares of Genesis Energy during the first quarter valued at about $108,000. Finally, Osaic Holdings Inc. grew its stake in shares of Genesis Energy by 91.4% in the second quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock worth $133,000 after purchasing an additional 3,680 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors.

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.