Genesis Energy, L.P. (NYSE:GEL – Get Rating)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $10.84, but opened at $10.53. Genesis Energy shares last traded at $10.62, with a volume of 40,102 shares traded.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on GEL. Wells Fargo & Company raised their price target on Genesis Energy from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 2nd. StockNews.com downgraded Genesis Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th.
Genesis Energy Stock Down 0.6 %
The firm has a 50 day simple moving average of $11.30 and a two-hundred day simple moving average of $10.80. The company has a market capitalization of $1.32 billion, a PE ratio of -359.00 and a beta of 2.19. The company has a current ratio of 1.20, a quick ratio of 1.09 and a debt-to-equity ratio of 3.92.
Genesis Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be paid a $0.15 dividend. The ex-dividend date is Thursday, April 27th. This represents a $0.60 annualized dividend and a dividend yield of 5.57%. Genesis Energy’s dividend payout ratio (DPR) is currently -2,000.00%.
Institutional Trading of Genesis Energy
A number of institutional investors have recently modified their holdings of the business. Alps Advisors Inc. boosted its stake in shares of Genesis Energy by 4.6% in the fourth quarter. Alps Advisors Inc. now owns 16,265,444 shares of the pipeline company’s stock valued at $166,070,000 after buying an additional 709,095 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Genesis Energy by 12.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,307,420 shares of the pipeline company’s stock valued at $64,399,000 after buying an additional 690,432 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Genesis Energy by 0.6% in the first quarter. Chickasaw Capital Management LLC now owns 3,678,510 shares of the pipeline company’s stock valued at $41,420,000 after buying an additional 22,970 shares in the last quarter. Morgan Stanley boosted its stake in shares of Genesis Energy by 35.7% in the fourth quarter. Morgan Stanley now owns 3,346,220 shares of the pipeline company’s stock valued at $34,165,000 after buying an additional 879,674 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Genesis Energy by 24.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,065,155 shares of the pipeline company’s stock valued at $16,563,000 after buying an additional 407,137 shares in the last quarter. 70.04% of the stock is currently owned by hedge funds and other institutional investors.
About Genesis Energy
Genesis Energy LP engages in the provision of midstream services and produces natural soda ash. It operates through the following segments: Offshore Pipeline Transportation, Sodium Minerals and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. The Offshore Pipeline Transportation segment owns interests in crude oil and natural gas pipeline transportation and handling operations through its offshore pipeline transportation segment.
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