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

Shares of Genesis Energy, L.P. (NYSE:GEL) gapped up prior to trading 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.

Separately, Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $15.00 to $18.00 in a report on Monday.

Hedge Funds Weigh In On Genesis Energy

Institutional investors have recently added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new position in Genesis Energy in the third quarter worth $59,000. F M Investments LLC bought a new position in Genesis Energy in the fourth quarter worth $122,000. Ameriprise Financial Inc. bought a new position in Genesis Energy in the fourth quarter worth $126,000. Stifel Financial Corp increased its holdings 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 acquiring an additional 1,819 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Genesis Energy by 2.9% during the third 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 in the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Price Performance

The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The firm has a fifty day moving average price of $11.46 and a two-hundred day moving average price of $11.87. The stock has a market capitalization of $1.72 billion, a P/E ratio of -11.32 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last issued 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 annualized dividend and a yield of 4.70%. 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.