Genesis Energy (NYSE:GEL) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Genesis Energy (NYSE:GEL) from a hold rating to a sell rating in a report released on Monday morning.

Genesis Energy Stock Performance

Shares of NYSE:GEL traded up $0.40 during mid-day trading on Monday, reaching $13.27. 899,790 shares of the company traded hands, compared to its average volume of 374,881. The company’s 50 day moving average price is $13.71 and its 200-day moving average price is $12.43. The firm has a market cap of $1.63 billion, a PE ratio of 39.06 and a beta of 2.11. Genesis Energy has a 52 week low of $8.05 and a 52 week high of $15.17. The company has a debt-to-equity ratio of 4.39, a current ratio of 1.05 and a quick ratio of 0.90.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). The firm had revenue of $756.26 million during the quarter. Genesis Energy had a return on equity of 8.12% and a net margin of 2.34%. During the same period in the prior year, the firm posted $0.22 EPS.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.60 annualized dividend and a dividend yield of 4.52%. Genesis Energy’s payout ratio is 176.47%.

Insider Buying and Selling

In other Genesis Energy news, VP Garland G. Gaspard purchased 2,261 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $13.27 per share, with a total value of $30,003.47. Following the acquisition, the vice president now owns 19,525 shares in the company, valued at $259,096.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Genesis Energy

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Genesis Energy during the 4th quarter valued at about $46,000. Mather Group LLC. purchased a new position in Genesis Energy during the 1st quarter valued at approximately $55,000. Tower Research Capital LLC TRC increased its stake in Genesis Energy by 170.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,311 shares of the pipeline company’s stock worth $62,000 after acquiring an additional 3,347 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in shares of Genesis Energy during the 1st quarter worth approximately $111,000. Finally, Van ECK Associates Corp boosted its position in shares of Genesis Energy by 17.4% during the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 3,073 shares during the last quarter. 66.82% of the stock is 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.