Genesis Energy (NYSE:GEL) Hits New 52-Week Low – Here’s What Happened

Shares of Genesis Energy, L.P. (NYSE:GEL) hit a new 52-week low during trading on Tuesday . The company traded as low as $14.35 and last traded at $14.38, with a volume of 1080781 shares. The stock had previously closed at $15.13.

Wall Street Analyst Weigh In

GEL has been the subject of several research analyst reports. Weiss Ratings raised shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Wells Fargo & Company dropped their target price on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Genesis Energy Price Performance

The company’s 50-day moving average price is $16.39 and its two-hundred day moving average price is $16.67. The company has a market cap of $1.76 billion, a P/E ratio of -75.68 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 earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.22). The company 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%.Genesis Energy’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.06) EPS.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Thursday, April 30th. Genesis Energy’s dividend payout ratio is currently -378.95%.

Insider Buying and Selling at Genesis Energy

In other Genesis Energy news, SVP Garland G. Gaspard acquired 12,340 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $16.34 per share, with a total value of $201,635.60. Following the transaction, the senior vice president directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genesis Energy

A number of institutional investors have recently modified their holdings of GEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Genesis Energy by 29.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock valued at $107,285,000 after buying an additional 1,465,339 shares during the last quarter. Morgan Stanley grew its position in shares of Genesis Energy by 39.9% during the 4th quarter. Morgan Stanley now owns 4,054,770 shares of the pipeline company’s stock valued at $63,254,000 after buying an additional 1,156,884 shares during the last quarter. Alps Advisors Inc. grew its position in shares of Genesis Energy by 3.7% during the 4th quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company’s stock valued at $388,587,000 after buying an additional 890,193 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 buying an additional 478,530 shares during the last quarter. Finally, UBS Group AG grew its position in shares of Genesis Energy by 31.3% during the 4th quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock valued at $28,301,000 after buying an additional 432,771 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

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.