Genesis Energy (NYSE:GEL) Trading Down 2.8%

Shares of Genesis Energy, L.P. (NYSE:GEL) were down 2.8% on Thursday . The company traded as low as $12.97 and last traded at $12.98. 98,804 shares traded hands during trading, a decline of 73% from the average session volume of 366,239 shares. The stock had previously closed at $13.35.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Genesis Energy Price Performance

The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74. The stock has a market cap of $1.60 billion, a P/E ratio of 39.21 and a beta of 2.10. The company’s fifty day simple moving average is $13.60 and its 200-day simple moving average is $12.86.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. The company had revenue of $756.26 million during the quarter. During the same quarter in the prior year, the company posted $0.22 EPS.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.58%. The ex-dividend date was Wednesday, July 31st. Genesis Energy’s payout ratio is 176.47%.

Insider Buying and Selling

In other Genesis Energy news, VP Garland G. Gaspard bought 2,261 shares of Genesis Energy stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $13.27 per share, with a total value of $30,003.47. Following the acquisition, the vice president now directly owns 19,525 shares of the company’s stock, valued at $259,096.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Genesis Energy

Several large investors have recently made changes to their positions in GEL. Creative Planning bought a new stake in Genesis Energy during the 2nd quarter worth about $43,591,000. UBS Group AG raised its stake in shares of Genesis Energy by 479.1% during the fourth quarter. UBS Group AG now owns 1,417,274 shares of the pipeline company’s stock worth $16,412,000 after buying an additional 1,172,536 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Genesis Energy by 14.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock valued at $67,126,000 after buying an additional 760,739 shares during the period. Chickasaw Capital Management LLC boosted its stake in Genesis Energy by 6.5% in the second quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock valued at $61,411,000 after acquiring an additional 262,784 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Genesis Energy by 24.5% during the 4th quarter. Wells Fargo & Company MN now owns 988,690 shares of the pipeline company’s stock worth $11,449,000 after acquiring an additional 194,258 shares during the period. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Company Profile

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.