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 note published on Monday morning, MarketBeat Ratings reports. They currently have $18.00 price target on the pipeline company’s stock, up from their previous price target of $15.00.

Genesis Energy Price Performance

Genesis Energy stock opened at $14.35 on Monday. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The firm has a market cap of $1.76 billion, a P/E ratio of -11.57 and a beta of 1.92. The business’s fifty day moving average is $11.54 and its two-hundred day moving average is $11.88. Genesis Energy has a 52 week low of $9.86 and a 52 week high of $15.17.

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

Genesis Energy Announces Dividend

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

Hedge Funds Weigh In On Genesis Energy

Several large investors have recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Genesis Energy by 1.0% during the fourth quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company’s stock valued at $185,929,000 after acquiring an additional 178,369 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Genesis Energy by 9.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock valued at $47,169,000 after acquiring an additional 418,555 shares during the period. Chickasaw Capital Management LLC lifted its stake in Genesis Energy by 0.4% in the fourth quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company’s stock valued at $38,776,000 after buying an additional 15,027 shares during the period. Jefferies Financial Group Inc. lifted its stake 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 buying an additional 20,000 shares during the period. Finally, ING Groep NV lifted its stake 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 buying an additional 92,300 shares during the period. Institutional investors and hedge funds 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.