Genesis Energy (NYSE:GEL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Genesis Energy, L.P. (NYSE:GEL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.95 and traded as high as $12.43. Genesis Energy shares last traded at $12.02, with a volume of 267,158 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st.

Genesis Energy Trading Down 3.0 %

The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The business has a fifty day simple moving average of $10.67 and a 200 day simple moving average of $11.95. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -9.69 and a beta of 2.13.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.53). The company had revenue of $725.55 million during the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.49%. Genesis Energy’s dividend payout ratio (DPR) is presently -53.23%.

Hedge Funds Weigh In On Genesis Energy

Several institutional investors and hedge funds have recently modified their holdings of GEL. Jefferies Financial Group Inc. raised its holdings in Genesis Energy by 1.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company’s stock valued at $15,693,000 after acquiring an additional 20,000 shares during the last quarter. Cresset Asset Management LLC acquired a new position in Genesis Energy in the fourth quarter valued at $1,449,000. Captrust Financial Advisors increased its stake in Genesis Energy by 9.1% in the fourth quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company’s stock valued at $350,000 after purchasing an additional 2,900 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Genesis Energy during the fourth quarter worth about $126,000. Finally, Callodine Capital Management LP boosted its stake in Genesis Energy by 40.0% in the 4th quarter. Callodine Capital Management LP now owns 350,000 shares of the pipeline company’s stock worth $3,538,000 after buying an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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.