Genesis Energy, L.P. (NYSE:GEL – Get Free Report)’s share price reached a new 52-week low on Thursday . The stock traded as low as $9.92 and last traded at $9.92, with a volume of 395200 shares traded. The stock had previously closed at $10.13.
Analyst Upgrades and Downgrades
GEL has been the subject of a number of analyst reports. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their price target on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th.
Get Our Latest Research Report on GEL
Genesis Energy Trading Up 0.8 %
Genesis Energy (NYSE:GEL – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The business had revenue of $714.30 million during the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same quarter in the previous year, the business earned $0.29 earnings per share.
Genesis Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 6.60%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, October 31st. Genesis Energy’s dividend payout ratio (DPR) is presently -89.19%.
Institutional Trading of Genesis Energy
A number of large investors have recently made changes to their positions in the stock. Millburn Ridgefield Corp purchased a new position in Genesis Energy in the third quarter worth about $59,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Genesis Energy in the third quarter worth approximately $139,000. Stifel Financial Corp grew 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 valued at $250,000 after buying an additional 1,819 shares during the period. Van ECK Associates Corp increased its holdings in Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after buying an additional 3,073 shares during the last quarter. Finally, Axiom Advisory LLC raised its position in Genesis Energy by 2.8% in the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 794 shares during the period. 66.82% of the stock is currently owned by institutional investors.
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.
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