Genesis Energy (NYSE:GEL) Hits New 12-Month High – Still a Buy?

Shares of Genesis Energy, L.P. (NYSE:GEL) reached a new 52-week high on Tuesday . The company traded as high as $15.87 and last traded at $15.73, with a volume of 749343 shares. The stock had previously closed at $15.46.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Wells Fargo & Company upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $15.00 to $18.00 in a research note on Monday, March 17th.

Genesis Energy Stock Performance

The company has a market cap of $1.93 billion, a PE ratio of -12.69 and a beta of 1.92. The stock has a 50 day simple moving average of $12.03 and a two-hundred day simple moving average of $11.94. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91.

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

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Friday, January 31st. Genesis Energy’s dividend payout ratio is currently -53.23%.

Institutional Trading of Genesis Energy

A number of hedge funds have recently added to or reduced their stakes in GEL. Captrust Financial Advisors increased its holdings in shares of Genesis Energy by 2.9% in the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 900 shares during the period. Oppenheimer Asset Management Inc. grew its position in Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after buying an additional 1,584 shares during the last quarter. Stifel Financial Corp grew its position in Genesis Energy by 10.8% in 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 during the last quarter. Mariner LLC increased its stake in Genesis Energy by 7.0% in the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock valued at $359,000 after buying an additional 2,321 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Genesis Energy by 6.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock worth $488,000 after buying an additional 2,717 shares during the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

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.