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, MarketBeat.com reports. The brokerage currently has $18.00 price target on the pipeline company’s stock, up from their previous price target of $15.00.

Genesis Energy Stock Performance

Shares of Genesis Energy stock opened at $14.85 on Monday. The stock’s fifty day moving average is $11.72 and its two-hundred day moving average is $11.91. The company has a market capitalization of $1.82 billion, a PE ratio of -11.97 and a beta of 1.92. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. Genesis Energy has a 52 week low of $9.86 and a 52 week high of $15.18.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) EPS 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 business had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

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

Hedge Funds Weigh In On Genesis Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. ING Groep NV grew its position in shares of Genesis Energy by 12.1% during the 4th quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock worth $8,644,000 after buying an additional 92,300 shares in the last quarter. BBR Partners LLC bought a new position in shares of Genesis Energy during the 3rd quarter worth $648,000. Manning & Napier Advisors LLC grew its position in shares of Genesis Energy by 40.0% during the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock worth $3,538,000 after buying an additional 100,000 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Genesis Energy during the 4th quarter worth $920,000. Finally, Stifel Financial Corp grew its position in shares of Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after buying an additional 1,819 shares in the last quarter. 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.