Genesis Energy (NYSE:GEL) Reaches New 1-Year Low – What’s Next?

Genesis Energy, L.P. (NYSE:GEL)’s share price reached a new 52-week low on Thursday . The company traded as low as $9.92 and last traded at $9.92, with a volume of 395200 shares. The stock had previously closed at $10.13.

Wall Street Analysts Forecast Growth

GEL has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st.

Genesis Energy Price Performance

The firm has a fifty day moving average of $11.72 and a two-hundred day moving average of $12.93. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The company has a market capitalization of $1.22 billion, a PE ratio of -13.51 and a beta of 2.12.

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

Genesis Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, October 31st. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 6.60%. Genesis Energy’s payout ratio is -89.19%.

Institutional Investors Weigh In On Genesis Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. BBR Partners LLC bought a new stake in shares of Genesis Energy during the third quarter valued at approximately $648,000. Creative Planning bought a new stake in shares of Genesis Energy during the 2nd quarter valued at $43,591,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Genesis Energy in the 3rd quarter worth about $139,000. Murchinson Ltd. purchased a new stake in shares of Genesis Energy in the 3rd quarter worth about $1,005,000. Finally, ING Groep NV increased its stake in shares of Genesis Energy by 15.1% in the 3rd quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock worth $10,197,000 after acquiring an additional 100,000 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.