Genesis Energy (NYSE:GEL) Sees Large Volume Increase

Genesis Energy, L.P. (NYSE:GEL) saw an uptick in trading volume on Thursday . 534,106 shares traded hands during mid-day trading, an increase of 49% from the previous session’s volume of 359,264 shares.The stock last traded at $13.13 and had previously closed at $13.94.

Genesis Energy Stock Down 5.0 %

The stock’s fifty day moving average is $13.68 and its 200 day moving average is $12.41. The company has a current ratio of 1.05, a quick ratio of 0.90 and a debt-to-equity ratio of 4.39. The company has a market capitalization of $1.62 billion, a P/E ratio of 38.80 and a beta of 2.11.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, May 2nd. The pipeline company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Genesis Energy had a net margin of 4.14% and a return on equity of 14.70%. The firm had revenue of $770.11 million for the quarter. During the same period in the prior year, the company earned ($0.21) EPS. The firm’s revenue was down 2.6% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a $0.15 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.60 annualized dividend and a yield of 4.53%. Genesis Energy’s dividend payout ratio (DPR) is presently 176.48%.

Institutional Trading of Genesis Energy

A number of hedge funds and other institutional investors have recently modified their holdings of GEL. UBS Group AG grew its position in shares of Genesis Energy by 479.1% in the 4th quarter. UBS Group AG now owns 1,417,274 shares of the pipeline company’s stock worth $16,412,000 after buying an additional 1,172,536 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Genesis Energy by 14.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock worth $67,126,000 after buying an additional 760,739 shares during the period. Jennison Associates LLC purchased a new stake in Genesis Energy during the 4th quarter valued at about $5,401,000. Chickasaw Capital Management LLC grew its position in Genesis Energy by 6.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock valued at $61,411,000 after purchasing an additional 262,784 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Genesis Energy by 24.5% during the 4th quarter. Wells Fargo & Company MN now owns 988,690 shares of the pipeline company’s stock valued at $11,449,000 after purchasing an additional 194,258 shares during 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.