Genesis Energy (NYSE:GEL) Sees Unusually-High Trading Volume

Shares of Genesis Energy, L.P. (NYSE:GEL – Get Rating) saw an uptick in trading volume on Monday . 531,083 shares changed hands during mid-day trading, an increase of 85% from the previous session’s volume of 286,520 shares.The stock last traded at $11.71 and had previously closed at $11.55.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GEL. Royal Bank of Canada lifted their price objective on shares of Genesis Energy from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, October 28th. StockNews.com began coverage on shares of Genesis Energy in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.

Genesis Energy Price Performance

The stock’s 50 day simple moving average is $10.24 and its 200 day simple moving average is $10.37. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.98 and a current ratio of 1.13.

Genesis Energy (NYSE:GEL – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The pipeline company reported ($0.12) EPS for the quarter. The business had revenue of $721.25 million for the quarter. Genesis Energy had a negative net margin of 1.31% and a negative return on equity of 3.89%.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, January 30th. This represents a $0.60 dividend on an annualized basis and a yield of 5.20%. Genesis Energy’s dividend payout ratio (DPR) is presently -67.42%.

Institutional Trading of Genesis Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of GEL. Mirae Asset Global Investments Co. Ltd. increased its stake in Genesis Energy by 12.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,329,553 shares of the pipeline company’s stock valued at $42,743,000 after purchasing an additional 595,314 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Genesis Energy by 24.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,065,155 shares of the pipeline company’s stock worth $16,563,000 after acquiring an additional 407,137 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Genesis Energy in the 3rd quarter worth $3,610,000. UBS Group AG grew its stake in shares of Genesis Energy by 19.6% in the 1st quarter. UBS Group AG now owns 1,431,719 shares of the pipeline company’s stock worth $16,766,000 after acquiring an additional 234,305 shares in the last quarter. Finally, ING Groep NV grew its stake in shares of Genesis Energy by 83.2% in the 3rd quarter. ING Groep NV now owns 273,000 shares of the pipeline company’s stock worth $2,512,000 after acquiring an additional 124,000 shares in the last quarter. Institutional investors own 70.04% of the company’s stock.

Genesis Energy Company Profile

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Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deepwater pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.