Genesis Energy (NYSE:GEL) Price Target Raised to $15.00

Genesis Energy (NYSE:GEL) had its price target lifted by Wells Fargo & Company from $12.00 to $15.00 in a report issued on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the pipeline company’s stock.

Genesis Energy Stock Performance

Shares of GEL opened at $13.17 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The stock has a 50 day moving average of $11.11 and a 200 day moving average of $11.91. Genesis Energy has a 12 month low of $9.86 and a 12 month high of $15.17. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -10.62 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The firm had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Friday, January 31st. Genesis Energy’s payout ratio is currently -53.23%.

Institutional Investors Weigh In On Genesis Energy

Several large investors have recently added to or reduced their stakes in GEL. Wealth Enhancement Advisory Services LLC bought a new stake in Genesis Energy during the third quarter valued at $139,000. ING Groep NV increased its holdings in Genesis Energy by 15.1% during the 3rd quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock valued at $10,197,000 after purchasing an additional 100,000 shares during the period. BBR Partners LLC purchased a new position in Genesis Energy during the 3rd quarter valued at about $648,000. Infrastructure Capital Advisors LLC boosted its position in Genesis Energy by 1.0% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 780,212 shares of the pipeline company’s stock valued at $10,431,000 after acquiring an additional 7,604 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Genesis Energy by 2.9% during the 3rd 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.

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.