Genesis Energy (NYSE:GEL) Shares Down 4.8% – Here’s Why

Shares of Genesis Energy, L.P. (NYSE:GEL) fell 4.8% during mid-day trading on Friday . The stock traded as low as $14.82 and last traded at $14.9030. 77,998 shares changed hands during trading, a decline of 71% from the average session volume of 269,552 shares. The stock had previously closed at $15.66.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GEL. Wells Fargo & Company decreased their price target on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Genesis Energy presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Genesis Energy Stock Performance

The company’s fifty day moving average is $16.45 and its 200 day moving average is $16.67. The company has a market capitalization of $1.84 billion, a P/E ratio of -79.10 and a beta of 0.63. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 25.62.

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

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.72 annualized dividend and a yield of 4.8%. Genesis Energy’s dividend payout ratio (DPR) is -378.95%.

Insider Buying and Selling

In other Genesis Energy news, SVP Garland G. Gaspard acquired 12,340 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $16.34 per share, with a total value of $201,635.60. Following the acquisition, the senior vice president owned 36,881 shares in the company, valued at approximately $602,635.54. This represents a 50.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Fulcrum Asset Management LLP bought a new position in Genesis Energy in the 3rd quarter valued at $26,000. Kestra Advisory Services LLC bought a new position in Genesis Energy in the 4th quarter valued at $30,000. Geneos Wealth Management Inc. bought a new position in Genesis Energy in the 2nd quarter valued at $49,000. Jones Financial Companies Lllp bought a new position in Genesis Energy in the 1st quarter valued at $108,000. Finally, Osaic Holdings Inc. boosted its holdings in Genesis Energy by 91.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock valued at $133,000 after purchasing an additional 3,680 shares during the period. 66.82% of the stock is owned by institutional investors.

About Genesis Energy

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.