Genesis Energy (NYSE:GEL) Hits New 12-Month High at $12.83

Genesis Energy, L.P. (NYSE:GEL) shares reached a new 52-week high on Friday . The stock traded as high as $12.83 and last traded at $12.74, with a volume of 522205 shares. The stock had previously closed at $12.25.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Genesis Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th.

Genesis Energy Trading Up 4.0 %

The stock has a market cap of $1.56 billion, a PE ratio of 57.91 and a beta of 2.01. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 4.18. The firm has a 50-day simple moving average of $11.57 and a 200-day simple moving average of $11.63.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, May 2nd. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.10). The firm had revenue of $770.11 million during the quarter. Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. Genesis Energy’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) EPS.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Monday, April 29th. Genesis Energy’s dividend payout ratio (DPR) is currently 272.73%.

Hedge Funds Weigh In On Genesis Energy

Several institutional investors have recently modified their holdings of GEL. GSA Capital Partners LLP lifted its stake in Genesis Energy by 184.1% in the first quarter. GSA Capital Partners LLP now owns 120,932 shares of the pipeline company’s stock worth $1,345,000 after purchasing an additional 78,369 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Genesis Energy by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock valued at $67,126,000 after acquiring an additional 760,739 shares during the period. Maryland State Retirement & Pension System grew its position in Genesis Energy by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company’s stock worth $1,117,000 after acquiring an additional 2,625 shares during the last quarter. Pettinga Financial Advisors LLC increased its stake in Genesis Energy by 9.9% in the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after purchasing an additional 2,000 shares during the period. Finally, Sanders Morris Harris LLC bought a new stake in Genesis Energy in the first quarter valued at approximately $1,372,000. 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.