Genesis Energy (NYSE:GEL) Reaches New 1-Year Low – Here’s Why

Genesis Energy, L.P. (NYSE:GEL) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $13.37 and last traded at $13.5650, with a volume of 158,972 shares changing hands. The stock had previously closed at $14.41.

Analyst Ratings Changes

GEL has been the topic of several analyst reports. Royal Bank Of Canada reduced their target price on shares of Genesis Energy from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings raised shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Genesis Energy Trading Down 5.3%

The company has a market cap of $1.67 billion, a price-to-earnings ratio of 71.82 and a beta of 0.79. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 24.31. The business’s fifty day simple moving average is $14.82 and its two-hundred day simple moving average is $15.95.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, August 6th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.24. Genesis Energy had a return on equity of 55.96% and a net margin of 4.29%. The firm had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $532.00 million. During the same period in the prior year, the firm earned ($0.12) EPS.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.20 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.80 annualized dividend and a dividend yield of 5.9%. Genesis Energy’s dividend payout ratio (DPR) is 421.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CFS Investment Advisory Services LLC acquired a new position in shares of Genesis Energy during the third quarter worth about $179,000. Geneos Wealth Management Inc. raised its holdings in Genesis Energy by 1,714.5% in the first quarter. Geneos Wealth Management Inc. now owns 13,155 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 12,430 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in Genesis Energy by 25.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 15,601 shares of the pipeline company’s stock valued at $243,000 after acquiring an additional 3,140 shares during the last quarter. Arrow Investment Advisors LLC boosted its stake in Genesis Energy by 26.7% during the 3rd quarter. Arrow Investment Advisors LLC now owns 16,542 shares of the pipeline company’s stock valued at $228,000 after acquiring an additional 3,481 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in Genesis Energy during the 3rd quarter worth $249,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

About Genesis Energy

Genesis Energy, L.P. is a Houston-based publicly traded master limited partnership that provides midstream energy infrastructure and related industrial services. The company owns and operates assets used to gather, transport, process and store crude oil and other energy products, primarily in the United States.

Genesis Energy’s offshore pipeline transportation business serves producers in the Gulf of Mexico, moving crude oil and natural gas through an extensive network of pipelines and related infrastructure.