Royal Bank of Canada Boosts Genesis Energy (NYSE:GEL) Price Target to $15.00

Genesis Energy (NYSE:GEL) had its price objective hoisted by Royal Bank of Canada from $14.00 to $15.00 in a report released on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the pipeline company’s stock.

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

Genesis Energy Trading Up 8.3 %

Genesis Energy stock opened at $14.35 on Monday. The firm has a 50 day simple moving average of $11.54 and a 200-day simple moving average of $11.88. 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 stock has a market capitalization of $1.76 billion, a PE ratio of -11.57 and a beta of 1.92. Genesis Energy has a 12-month low of $9.86 and a 12-month high of $15.17.

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

Genesis Energy Announces Dividend

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

Institutional Investors Weigh In On Genesis Energy

Several hedge funds have recently made changes to their positions in GEL. Millburn Ridgefield Corp purchased a new stake in shares of Genesis Energy in the 3rd quarter valued at approximately $59,000. F M Investments LLC purchased a new stake in shares of Genesis Energy in the 4th quarter valued at approximately $122,000. Ameriprise Financial Inc. purchased a new stake in shares of Genesis Energy in the 4th quarter valued at approximately $126,000. Stifel Financial Corp lifted its position in shares of 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 acquiring an additional 1,819 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in shares of Genesis Energy by 101.8% in the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $341,000 after acquiring an additional 16,099 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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.