Key Points
- Genesis Energy SVP Garland Gaspard bought 12,340 shares on May 18 at an average price of $16.34, a transaction worth about $201,636. After the purchase, he owned 36,881 shares, boosting his stake by 50.28%.
- The company recently reported quarterly earnings of -$0.06 per share, missing analyst expectations of $0.16, though revenue of $446.56 million matched forecasts and rose 12.1% year over year.
- Genesis Energy also paid a quarterly dividend of $0.18 per share, equal to an annualized yield of 4.4%, while analysts currently rate the stock a Moderate Buy with an average price target of $19.00.
Genesis Energy, L.P. (NYSE:GEL - Get Free Report) SVP Garland Gaspard purchased 12,340 shares of the business's stock in a transaction on Monday, May 18th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $201,635.60. Following the acquisition, the senior vice president owned 36,881 shares in the company, valued at approximately $602,635.54. The trade was a 50.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Genesis Energy Price Performance
Shares of Genesis Energy stock opened at $16.37 on Wednesday. The firm has a market cap of $2.00 billion, a PE ratio of -86.14 and a beta of 0.69. Genesis Energy, L.P. has a 12-month low of $14.55 and a 12-month high of $18.64. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62. The company's fifty day simple moving average is $17.23 and its two-hundred day simple moving average is $16.69.
Genesis Energy (NYSE:GEL - Get Free Report) last posted its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.22). Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.The company had revenue of $446.56 million during the quarter, compared to analysts' expectations of $446.56 million. During the same period in the prior year, the business posted ($4.06) earnings per share. The company's revenue for the quarter was up 12.1% on a year-over-year basis.
Genesis Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Thursday, April 30th. Genesis Energy's dividend payout ratio (DPR) is currently -378.95%.
Institutional Investors Weigh In On Genesis Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fulcrum Asset Management LLP bought a new position in shares of Genesis Energy during the third quarter valued at approximately $26,000. Kestra Advisory Services LLC bought a new position in shares of Genesis Energy during the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. bought a new position in shares of Genesis Energy during the second quarter valued at approximately $49,000. CWM LLC increased its stake in shares of Genesis Energy by 126.5% during the third quarter. CWM LLC now owns 3,106 shares of the pipeline company's stock valued at $52,000 after purchasing an additional 1,735 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of Genesis Energy during the first quarter valued at approximately $108,000. Hedge funds and other institutional investors own 66.82% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Genesis Energy from $19.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Genesis Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.
View Our Latest Stock Analysis on Genesis Energy
Genesis Energy Company Profile
(
Get Free Report)
Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company's primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.
Genesis Energy's operations are organized into several key business segments.
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