StockNews.com Downgrades Genesis Energy (NYSE:GEL) to Sell

StockNews.com lowered shares of Genesis Energy (NYSE:GEL) from a hold rating to a sell rating in a research note published on Monday.

Genesis Energy Trading Up 0.8 %

Genesis Energy stock opened at $13.45 on Monday. Genesis Energy has a 52-week low of $8.90 and a 52-week high of $15.17. The company has a market cap of $1.65 billion, a P/E ratio of 39.56 and a beta of 2.11. The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 4.39. The business has a 50-day simple moving average of $13.76 and a two-hundred day simple moving average of $12.47.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results 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). The business had revenue of $756.26 million during the quarter. Genesis Energy had a return on equity of 8.12% and a net margin of 2.34%. During the same quarter in the previous year, the firm earned $0.22 EPS.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Wednesday, July 31st. Genesis Energy’s payout ratio is 176.47%.

Insider Buying and Selling at Genesis Energy

In other news, VP Garland G. Gaspard acquired 2,261 shares of Genesis Energy stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of $13.27 per share, with a total value of $30,003.47. Following the completion of the purchase, the vice president now directly owns 19,525 shares in the company, valued at approximately $259,096.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Genesis Energy

Hedge funds have recently made changes to their positions in the business. UBS Group AG lifted its holdings in Genesis Energy by 479.1% in the 4th quarter. UBS Group AG now owns 1,417,274 shares of the pipeline company’s stock worth $16,412,000 after purchasing an additional 1,172,536 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Genesis Energy by 24.5% in the fourth quarter. Wells Fargo & Company MN now owns 988,690 shares of the pipeline company’s stock worth $11,449,000 after purchasing an additional 194,258 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 worth $67,126,000 after purchasing an additional 760,739 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Genesis Energy by 4.6% in the first quarter. Chickasaw Capital Management LLC now owns 4,028,715 shares of the pipeline company’s stock worth $44,799,000 after buying an additional 175,981 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Genesis Energy by 184.1% during the first quarter. GSA Capital Partners LLP now owns 120,932 shares of the pipeline company’s stock valued at $1,345,000 after buying an additional 78,369 shares during the last quarter. 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.