Genesis Energy (NYSE:GEL) Sets New 12-Month High – Still a Buy?

Shares of Genesis Energy, L.P. (NYSE:GEL) hit a new 52-week high during trading on Tuesday . The company traded as high as $15.87 and last traded at $15.73, with a volume of 749343 shares trading hands. The stock had previously closed at $15.46.

Analysts Set New Price Targets

A number of research analysts have recently commented on GEL shares. Royal Bank of Canada lifted their price objective on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, March 17th. Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $15.00 to $18.00 in a report on Monday, March 17th.

Genesis Energy Trading Down 1.0 %

The business has a 50 day moving average of $12.25 and a two-hundred day moving average of $11.99. The firm has a market cap of $1.94 billion, a P/E ratio of -12.79 and a beta of 1.92. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share 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 disclosed 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. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Friday, January 31st. Genesis Energy’s dividend payout ratio is presently -53.23%.

Hedge Funds Weigh In On Genesis Energy

A number of large investors have recently made changes to their positions in the company. ING Groep NV boosted its stake in Genesis Energy by 12.1% in the 4th quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock valued at $8,644,000 after purchasing an additional 92,300 shares during the period. BBR Partners LLC bought a new stake in shares of Genesis Energy in the third quarter valued at about $648,000. Manning & Napier Advisors LLC grew its stake in shares of Genesis Energy by 40.0% in the fourth quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock valued at $3,538,000 after acquiring an additional 100,000 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Genesis Energy in the fourth quarter valued at about $920,000. Finally, Stifel Financial Corp increased its position in Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after acquiring an additional 1,819 shares during the period. 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.