Genesis Energy (NYSE:GEL) Shares Gap Up on Analyst Upgrade

Genesis Energy, L.P. (NYSE:GEL) shares gapped up before the market opened on Monday after Royal Bank of Canada raised their price target on the stock from $14.00 to $15.00. The stock had previously closed at $13.25, but opened at $13.64. Royal Bank of Canada currently has an outperform rating on the stock. Genesis Energy shares last traded at $13.69, with a volume of 44,823 shares changing hands.

Separately, Wells Fargo & Company raised Genesis Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $15.00 to $18.00 in a research note on Monday.

Institutional Trading of Genesis Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors boosted its stake in Genesis Energy by 2.9% in the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after buying an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Genesis Energy by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after purchasing an additional 1,584 shares during the period. Stifel Financial Corp boosted its stake in shares of Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 1,819 shares during the period. Mariner LLC boosted its stake in shares of Genesis Energy by 7.0% during the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock valued at $359,000 after purchasing an additional 2,321 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Genesis Energy by 6.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock valued at $488,000 after purchasing an additional 2,717 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

The stock has a market cap of $1.72 billion, a PE ratio of -11.32 and a beta of 1.92. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The business has a 50 day moving average price of $11.46 and a two-hundred day moving average price of $11.87.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). The company had revenue of $725.55 million for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s payout ratio is -53.23%.

Genesis Energy Company Profile

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.