Genesis Energy (NYSE:GEL) Trading Down 4.8% – Here’s Why

Genesis Energy, L.P. (NYSE:GEL)’s stock price traded down 4.8% during trading on Friday . The stock traded as low as $14.82 and last traded at $14.9030. 77,998 shares were traded during trading, a decline of 71% from the average session volume of 269,552 shares. The stock had previously closed at $15.66.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings raised Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Wells Fargo & Company dropped their target price on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, May 12th. Two 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 currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Genesis Energy Stock Performance

The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -78.70 and a beta of 0.63. The company’s 50-day simple moving average is $16.50 and its 200-day simple moving average is $16.68.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.22). The business had revenue of $446.56 million during the quarter, compared to analyst estimates of $446.56 million. Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.06) EPS.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.8%. The ex-dividend date was Thursday, April 30th. Genesis Energy’s payout ratio is presently -378.95%.

Insiders Place Their Bets

In other news, SVP Garland G. Gaspard acquired 12,340 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $16.34 per share, for a total transaction of $201,635.60. Following the transaction, the senior vice president owned 36,881 shares in the company, valued at approximately $602,635.54. This trade represents a 50.28% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Genesis Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG grew its position in Genesis Energy by 31.3% during the 4th quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock worth $28,301,000 after purchasing an additional 432,771 shares in the last quarter. Citigroup Inc. grew its position in Genesis Energy by 15.4% during the 3rd quarter. Citigroup Inc. now owns 435,892 shares of the pipeline company’s stock worth $7,284,000 after purchasing an additional 58,126 shares in the last quarter. Alps Advisors Inc. grew its position in Genesis Energy by 3.7% during the 4th quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company’s stock worth $388,587,000 after purchasing an additional 890,193 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in Genesis Energy during the 4th quarter worth approximately $3,120,000. Finally, ING Groep NV grew its position in Genesis Energy by 5.3% during the 4th quarter. ING Groep NV now owns 2,500,800 shares of the pipeline company’s stock worth $39,012,000 after purchasing an additional 125,000 shares in the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

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.