Genesis Energy (NYSE:GEL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Genesis Energy, L.P. (NYSE:GEL)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.95 and traded as high as $12.43. Genesis Energy shares last traded at $12.02, with a volume of 267,158 shares changing hands.

Analyst Ratings Changes

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

Genesis Energy Stock Performance

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 stock has a fifty day moving average price of $10.67 and a 200-day moving average price of $11.94. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -9.69 and a beta of 2.13.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The company had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.165 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a yield of 5.49%. Genesis Energy’s payout ratio is -53.23%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. boosted its position in shares of Genesis Energy by 1.0% in the 4th quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company’s stock worth $185,929,000 after purchasing an additional 178,369 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock worth $47,169,000 after buying an additional 418,555 shares during the period. Chickasaw Capital Management LLC raised its stake in shares of Genesis Energy by 0.4% in the 4th quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company’s stock valued at $38,776,000 after purchasing an additional 15,027 shares during the period. Jefferies Financial Group Inc. raised its stake in shares of Genesis Energy by 1.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company’s stock valued at $15,693,000 after purchasing an additional 20,000 shares during the period. Finally, ING Groep NV increased its position in shares of Genesis Energy by 12.1% in the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock valued at $8,644,000 after acquiring an additional 92,300 shares during the last quarter. 66.82% of the stock is currently owned by 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.