Genesis Energy (NYSE:GEL) Trading 3.9% Higher on Analyst Upgrade

Shares of Genesis Energy, L.P. (NYSE:GEL) rose 3.9% on Tuesday after Royal Bank of Canada raised their price target on the stock from $14.00 to $15.00. Royal Bank of Canada currently has an outperform rating on the stock. Genesis Energy traded as high as $14.95 and last traded at $14.92. Approximately 727,358 shares were traded during trading, an increase of 5% from the average daily volume of 695,901 shares. The stock had previously closed at $14.36.

Separately, Wells Fargo & Company upgraded shares of 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.

Institutional Trading of Genesis Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. increased its position in Genesis Energy by 1.0% during the 4th quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company’s stock worth $185,929,000 after purchasing an additional 178,369 shares in the last quarter. JPMorgan Chase & Co. increased its position in Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock worth $47,169,000 after purchasing an additional 418,555 shares in the last quarter. Chickasaw Capital Management LLC increased its position in Genesis Energy by 0.4% during the 4th quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company’s stock worth $38,776,000 after purchasing an additional 15,027 shares in the last quarter. Jefferies Financial Group Inc. grew its position in Genesis Energy by 1.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company’s stock valued at $15,693,000 after acquiring an additional 20,000 shares in the last quarter. Finally, ING Groep NV grew its position in Genesis Energy by 12.1% in the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock valued at $8,644,000 after acquiring an additional 92,300 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Price Performance

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’s 50-day simple moving average is $11.72 and its 200-day simple moving average is $11.91. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -11.97 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last issued 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 firm had revenue of $725.55 million during the quarter.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s dividend payout ratio (DPR) 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.