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

Shares of Genesis Energy, L.P. (NYSE:GEL) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.23 and traded as high as $17.11. Genesis Energy shares last traded at $16.5880, with a volume of 528,448 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GEL shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research note on Thursday, January 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of Genesis Energy in a research note on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Genesis Energy Stock Performance

The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 19.90. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -3.45 and a beta of 0.84. The stock has a fifty day moving average price of $16.02 and a 200-day moving average price of $16.22.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, October 30th. The pipeline company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.18). Genesis Energy had a negative return on equity of 28.39% and a negative net margin of 26.61%.The firm had revenue of $414.00 million during the quarter. During the same period in the previous year, the business earned ($0.32) EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a dividend of $0.18 per share. This is an increase from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, January 30th. Genesis Energy’s payout ratio is -13.72%.

Institutional Trading of Genesis Energy

Institutional investors have recently made changes to their positions in the stock. Miller Howard Investments Inc. NY increased its position in Genesis Energy by 37.8% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 2,051,440 shares of the pipeline company’s stock worth $34,280,000 after purchasing an additional 562,850 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Genesis Energy in the second quarter valued at $926,000. Envestnet Asset Management Inc. boosted its position in Genesis Energy by 21.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 100,652 shares of the pipeline company’s stock valued at $1,734,000 after buying an additional 17,857 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new position in shares of Genesis Energy in the second quarter worth about $353,000. Finally, Claro Advisors LLC purchased a new position in Genesis Energy in the second quarter valued at about $439,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

About Genesis Energy

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.