Genesis Energy (NYSE:GEL) Stock Crosses Above 200-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 Thursday . The stock has a two hundred day moving average of $16.24 and traded as high as $17.09. Genesis Energy shares last traded at $16.59, with a volume of 200,381 shares.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Genesis Energy in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Genesis Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Genesis Energy Price Performance

The firm has a market cap of $2.03 billion, a P/E ratio of -3.45 and a beta of 0.84. The company has a debt-to-equity ratio of 19.90, a current ratio of 0.97 and a quick ratio of 0.90. The firm’s 50 day moving average is $15.83 and its 200 day moving average is $16.24.

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

Genesis Energy Increases Dividend

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

Hedge Funds Weigh In On Genesis Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fulcrum Asset Management LLP purchased a new position in shares of Genesis Energy in the 3rd quarter worth about $26,000. Mather Group LLC. bought a new stake in Genesis Energy during the 3rd quarter valued at about $30,000. Geneos Wealth Management Inc. purchased a new position in Genesis Energy in the second quarter worth about $49,000. CWM LLC lifted its stake in shares of Genesis Energy by 126.5% in the third quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock worth $52,000 after buying an additional 1,735 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Genesis Energy during the first quarter valued at approximately $108,000. 66.82% of the stock is currently owned by 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.