Genesis Energy (NYSE:GEL) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Genesis Energy (NYSE:GEL) from an equal weight rating to an overweight rating in a research report released on Monday morning, MarketBeat.com reports. The brokerage currently has $18.00 price objective on the pipeline company’s stock, up from their prior price objective of $15.00.

Genesis Energy Stock Down 0.9 %

Shares of GEL opened at $14.85 on Monday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -11.97 and a beta of 1.92. Genesis Energy has a 1 year low of $9.86 and a 1 year high of $15.18. The business’s 50 day simple moving average is $11.72 and its 200-day simple moving average is $11.91. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91.

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

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 annualized dividend and a yield of 4.45%. Genesis Energy’s payout ratio is presently -53.23%.

Institutional Trading of Genesis Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millburn Ridgefield Corp purchased a new stake in Genesis Energy during the 3rd quarter valued at $59,000. F M Investments LLC purchased a new stake in Genesis Energy during the 4th quarter valued at $122,000. Ameriprise Financial Inc. purchased a new stake in Genesis Energy during the 4th quarter valued at $126,000. Stifel Financial Corp raised its holdings in Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after buying an additional 1,819 shares during the period. Finally, Captrust Financial Advisors grew its position in Genesis Energy by 2.9% in the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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.