Genesis Energy (NYSE:GEL) Hits New 52-Week Low – Time to Sell?

Genesis Energy, L.P. (NYSE:GEL)’s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as $13.37 and last traded at $13.5650, with a volume of 158,972 shares changing hands. The stock had previously closed at $14.41.

Analyst Ratings Changes

A number of research firms have commented on GEL. Royal Bank Of Canada reduced their target price on Genesis Energy from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Weiss Ratings raised Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.50.

Genesis Energy Trading Up 2.7%

The stock has a market capitalization of $1.57 billion, a PE ratio of 67.53 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 24.31. The stock has a 50 day moving average price of $14.69 and a 200-day moving average price of $15.91.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, November 5th. The pipeline company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.13. Genesis Energy had a return on equity of 55.96% and a net margin of 4.29%. The company had revenue of $449.25 million for the quarter, compared to the consensus estimate of $529.81 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Genesis Energy’s revenue was up 8.5% on a year-over-year basis.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Friday, October 30th. Genesis Energy’s dividend payout ratio (DPR) is currently 421.05%.

Institutional Investors Weigh In On Genesis Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its position in shares of Genesis Energy by 3.2% during the third quarter. Alps Advisors Inc. now owns 25,637,441 shares of the pipeline company’s stock valued at $352,771,000 after buying an additional 797,267 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Genesis Energy during the 2nd quarter valued at approximately $6,872,000. NEOS Investment Management LLC raised its stake in shares of Genesis Energy by 67.0% in the second quarter. NEOS Investment Management LLC now owns 600,617 shares of the pipeline company’s stock valued at $8,511,000 after acquiring an additional 240,886 shares during the period. Pinnacle Holdings LLC purchased a new stake in Genesis Energy in the 2nd quarter worth about $3,345,000. Finally, Bank of America Corp DE boosted its position in shares of Genesis Energy by 18.4% during the first quarter. Bank of America Corp DE now owns 546,297 shares of the pipeline company’s stock valued at $9,740,000 after buying an additional 85,060 shares during the period. Institutional investors own 66.82% of the company’s stock.

About Genesis Energy

Genesis Energy, L.P. is a Houston-based publicly traded master limited partnership that provides midstream energy infrastructure and related industrial services. The company owns and operates assets used to gather, transport, process and store crude oil and other energy products, primarily in the United States.

Genesis Energy’s offshore pipeline transportation business serves producers in the Gulf of Mexico, moving crude oil and natural gas through an extensive network of pipelines and related infrastructure.