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

Genesis Energy, L.P. (NYSE:GEL)’s share price 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 upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and raised 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 have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its holdings 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 buying an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock worth $369,000 after purchasing an additional 1,584 shares in the last quarter. Stifel Financial Corp boosted its holdings in Genesis Energy by 10.8% in the 3rd 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 grew its position in shares of Genesis Energy by 7.0% during the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock worth $359,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings 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 worth $488,000 after purchasing an additional 2,717 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Trading Up 8.3 %

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 company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -11.57 and a beta of 1.92. The business’s 50-day moving average price is $11.54 and its two-hundred day moving average price is $11.88.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data 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 during the quarter.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s dividend payout ratio is currently -53.23%.

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.