Genesis Energy (NYSE:GEL) Hits New 1-Year High – Time to Buy?

Genesis Energy, L.P. (NYSE:GEL)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $15.18 and last traded at $15.00, with a volume of 1332879 shares traded. The stock had previously closed at $14.36.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $15.00 to $18.00 in a research note on Monday. Royal Bank of Canada boosted their price target on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday.

Genesis Energy Trading Up 1.7 %

The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The stock has a market cap of $1.84 billion, a P/E ratio of -12.15 and a beta of 1.92. The stock has a 50-day moving average price of $11.82 and a 200-day moving average price of $11.93.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a yield of 4.38%. Genesis Energy’s payout ratio is -53.23%.

Hedge Funds Weigh In On Genesis Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Genesis Energy by 1.0% during the 4th quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company’s stock valued at $185,929,000 after buying an additional 178,369 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Genesis Energy by 9.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock worth $47,169,000 after acquiring an additional 418,555 shares in the last quarter. Chickasaw Capital Management LLC lifted its holdings in shares of Genesis Energy by 0.4% in the 4th quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company’s stock worth $38,776,000 after acquiring an additional 15,027 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of Genesis Energy by 1.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company’s stock valued at $15,693,000 after purchasing an additional 20,000 shares in the last quarter. Finally, ING Groep NV grew its holdings in shares of Genesis Energy by 12.1% during 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 last quarter. 66.82% of the stock is currently owned by hedge funds and other 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.