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

Genesis Energy, L.P. (NYSE:GEL)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.95 and traded as high as $12.43. Genesis Energy shares last traded at $12.02, with a volume of 267,158 shares.

Analysts Set New Price Targets

Separately, Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.

Genesis Energy Stock Performance

The company’s 50 day moving average price is $10.67 and its 200-day moving average price is $11.94. The company has a market cap of $1.47 billion, a PE ratio of -9.69 and a beta of 2.13. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03.

Genesis Energy (NYSE:GEL) last posted 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 for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Friday, January 31st. Genesis Energy’s payout ratio is -53.23%.

Institutional Investors Weigh In On Genesis Energy

Hedge funds have recently bought and sold shares of the business. Millburn Ridgefield Corp bought a new position in Genesis Energy during the third quarter valued at approximately $59,000. F M Investments LLC bought a new stake in shares of Genesis Energy in the 4th quarter worth about $122,000. Ameriprise Financial Inc. bought a new stake in Genesis Energy during the 4th quarter valued at about $126,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Genesis Energy in the 3rd quarter valued at about $139,000. Finally, Stifel Financial Corp grew its position in shares of Genesis Energy by 10.8% in the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after buying an additional 1,819 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.