Genesis Energy (NYSE:GEL) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Genesis Energy, L.P. (NYSE:GEL)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $16.47 and traded as high as $18.12. Genesis Energy shares last traded at $17.8560, with a volume of 302,166 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Genesis Energy in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Genesis Energy has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Genesis Energy Stock Up 0.6%

The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -4.20 and a beta of 0.80. The firm has a 50 day simple moving average of $17.58 and a 200-day simple moving average of $16.48. The company has a debt-to-equity ratio of 19.59, a current ratio of 0.98 and a quick ratio of 0.90.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, February 12th. The pipeline company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.24). The firm had revenue of $440.76 million during the quarter. Genesis Energy had a negative net margin of 27.01% and a negative return on equity of 10.04%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.58) EPS.

Genesis Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was 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 dividend yield of 4.1%. Genesis Energy’s dividend payout ratio (DPR) is -17.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GEL. Fulcrum Asset Management LLP bought a new position in Genesis Energy in the 3rd quarter valued at $26,000. Mather Group LLC. bought a new stake in shares of Genesis Energy during the third quarter worth $30,000. Kestra Advisory Services LLC acquired a new stake in shares of Genesis Energy in the fourth quarter valued at $30,000. Geneos Wealth Management Inc. acquired a new stake in shares of Genesis Energy in the second quarter valued at $49,000. Finally, CWM LLC raised its holdings in shares of Genesis Energy by 126.5% in the third quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock valued at $52,000 after buying an additional 1,735 shares during the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Company Profile

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.