Genesis Energy (NYSE:GEL) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Genesis Energy, L.P. (NYSE:GEL)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.23 and traded as high as $17.11. Genesis Energy shares last traded at $16.5880, with a volume of 528,448 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on GEL shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a report on Thursday, January 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Genesis Energy in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.50.

Genesis Energy Stock Down 4.2%

The company has a market capitalization of $2.03 billion, a PE ratio of -3.45 and a beta of 0.84. The firm’s 50-day simple moving average is $16.02 and its 200 day simple moving average is $16.23. The company has a debt-to-equity ratio of 19.90, a quick ratio of 0.90 and a current ratio of 0.97.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, October 30th. The pipeline company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.18). The company had revenue of $414.00 million during the quarter. Genesis Energy had a negative net margin of 26.61% and a negative return on equity of 28.39%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.32) earnings per share.

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.18 dividend. The ex-dividend date is Friday, January 30th. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 4.3%. Genesis Energy’s payout ratio is -14.97%.

Institutional Investors Weigh In On Genesis Energy

Several hedge funds have recently modified their holdings of the stock. Fulcrum Asset Management LLP purchased a new stake in shares of Genesis Energy during the third quarter valued at approximately $26,000. Mather Group LLC. acquired a new position in Genesis Energy during the 3rd quarter worth $30,000. Geneos Wealth Management Inc. acquired a new position in Genesis Energy in the second quarter worth about $49,000. CWM LLC grew its position in shares of Genesis Energy by 126.5% in the 3rd quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock worth $52,000 after acquiring an additional 1,735 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in Genesis Energy in the first quarter worth $108,000. 66.82% of the stock is currently owned by hedge funds and other 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.