Genesis Energy (NYSE:GEL) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Genesis Energy, L.P. (NYSE:GEL)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.39 and traded as high as $16.76. Genesis Energy shares last traded at $16.67, with a volume of 296,652 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Genesis Energy from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Genesis Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Genesis Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Genesis Energy currently has a consensus rating of “Buy” and a consensus price target of $19.50.

Genesis Energy Trading Down 0.3%

The company has a market cap of $2.04 billion, a P/E ratio of -3.28 and a beta of 1.22. The stock’s 50 day moving average is $16.96 and its 200-day moving average is $15.39. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 18.85.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The firm had revenue of $377.35 million during the quarter. Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%.Genesis Energy’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.25) EPS.

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a $0.165 dividend. The ex-dividend date was Thursday, July 31st. This represents a $0.66 dividend on an annualized basis and a yield of 4.0%. Genesis Energy’s payout ratio is presently -12.99%.

Hedge Funds Weigh In On Genesis Energy

A number of hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. boosted its stake in Genesis Energy by 16.6% in the 1st quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company’s stock worth $376,877,000 after purchasing an additional 3,422,967 shares in the last quarter. Invesco Ltd. lifted its stake in Genesis Energy by 2.2% during the 1st quarter. Invesco Ltd. now owns 18,799,575 shares of the pipeline company’s stock valued at $294,965,000 after acquiring an additional 408,927 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Genesis Energy by 28.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company’s stock valued at $87,911,000 after acquiring an additional 1,257,712 shares during the period. JPMorgan Chase & Co. lifted its stake in Genesis Energy by 4.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,883,712 shares of the pipeline company’s stock valued at $84,146,000 after acquiring an additional 220,616 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Genesis Energy by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock valued at $63,934,000 after acquiring an additional 478,530 shares during the period. Institutional investors own 66.82% of the company’s stock.

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.