Genesis Energy (NYSE:GEL) Trading Down 2.4%

Shares of Genesis Energy, L.P. (NYSE:GELGet Rating) fell 2.4% during mid-day trading on Wednesday . The company traded as low as $10.41 and last traded at $10.41. 538 shares were traded during trading, a decline of 100% from the average session volume of 691,501 shares. The stock had previously closed at $10.67.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GEL. StockNews.com began coverage on Genesis Energy in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Royal Bank of Canada upped their target price on Genesis Energy from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, October 28th.

Genesis Energy Stock Performance

The firm has a market capitalization of $1.25 billion, a PE ratio of -11.48 and a beta of 2.29. The company has a debt-to-equity ratio of 3.90, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a fifty day moving average price of $10.51 and a 200 day moving average price of $10.44.

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend was Friday, October 28th. Genesis Energy’s dividend payout ratio is -67.42%.

Insider Activity at Genesis Energy

In other Genesis Energy news, insider Edward T. Flynn purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were purchased at an average cost of $10.02 per share, with a total value of $200,400.00. Following the completion of the transaction, the insider now owns 120,000 shares of the company’s stock, valued at $1,202,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GEL. Mirae Asset Global Investments Co. Ltd. raised its position in Genesis Energy by 12.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,329,553 shares of the pipeline company’s stock valued at $42,743,000 after buying an additional 595,314 shares during the period. Goldman Sachs Group Inc. raised its position in Genesis Energy by 24.6% during the second quarter. Goldman Sachs Group Inc. now owns 2,065,155 shares of the pipeline company’s stock valued at $16,563,000 after buying an additional 407,137 shares during the period. Bank of Montreal Can acquired a new position in Genesis Energy in the 3rd quarter worth about $3,610,000. UBS Group AG increased its position in Genesis Energy by 19.6% in the 1st quarter. UBS Group AG now owns 1,431,719 shares of the pipeline company’s stock worth $16,766,000 after purchasing an additional 234,305 shares during the last quarter. Finally, ING Groep NV increased its position in Genesis Energy by 83.2% in the 3rd quarter. ING Groep NV now owns 273,000 shares of the pipeline company’s stock worth $2,512,000 after purchasing an additional 124,000 shares during the last quarter.

About Genesis Energy

(Get Rating)

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deepwater pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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