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

Shares of Genesis Energy, L.P. (NYSE:GEL) 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 traded.

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

Institutional Trading of Genesis Energy

Several institutional investors have recently modified their holdings of the stock. Millburn Ridgefield Corp acquired a new position in shares of Genesis Energy during the 3rd quarter worth about $59,000. F M Investments LLC purchased a new position in shares of Genesis Energy in the fourth quarter valued at approximately $122,000. Ameriprise Financial Inc. acquired a new stake in shares of Genesis Energy in the fourth quarter worth approximately $126,000. Stifel Financial Corp increased its position in shares of Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 1,819 shares in the last quarter. Finally, Mutual Advisors LLC raised its stake in 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 purchasing an additional 16,099 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Up 4.4 %

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 business has a fifty day simple moving average of $11.63 and a two-hundred day simple moving average of $11.88. The company has a market cap of $1.84 billion, a PE ratio of -12.09 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results 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 return on equity of 7.71% and a negative net margin of 2.16%. The business had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.165 per share. The ex-dividend date was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a yield of 4.40%. Genesis Energy’s payout ratio 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.