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

Genesis Energy, L.P. (NYSE:GEL) hit a new 52-week low on Thursday . The company traded as low as $9.92 and last traded at $9.92, with a volume of 395200 shares trading hands. The stock had previously closed at $10.13.

Wall Street Analyst Weigh In

GEL has been the subject of several analyst reports. Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada upped their price objective on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th.

Genesis Energy Stock Down 2.1 %

The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The firm’s fifty day moving average price is $11.93 and its two-hundred day moving average price is $12.98. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -13.41 and a beta of 2.12.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The business had revenue of $714.30 million for the quarter. Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. During the same quarter in the previous year, the business earned $0.29 earnings per share.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.165 per share. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend was Thursday, October 31st. Genesis Energy’s dividend payout ratio is presently -89.19%.

Hedge Funds Weigh In On Genesis Energy

Large investors have recently modified their holdings of the business. Millburn Ridgefield Corp purchased a new stake in shares of Genesis Energy in the 3rd quarter valued at approximately $59,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Genesis Energy in the 3rd quarter valued at approximately $139,000. Stifel Financial Corp grew its position in Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after buying an additional 1,819 shares in the last quarter. Van ECK Associates Corp boosted its stake in Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after buying an additional 3,073 shares in the last quarter. Finally, Axiom Advisory LLC lifted its holdings in shares of Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 794 shares during the period. 66.82% of the stock is owned by hedge funds and other institutional investors.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.