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

Genesis Energy, L.P. (NYSE:GEL)’s stock price traded up 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. 727,358 shares traded hands during trading, an increase of 5% from the average session volume of 695,901 shares. The stock had previously closed at $14.36.

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

Institutional Investors Weigh In On Genesis Energy

Large investors have recently added to or reduced their stakes in the business. ING Groep NV grew its stake in Genesis Energy by 12.1% in the 4th 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 during the last quarter. BBR Partners LLC acquired a new stake in Genesis Energy in the 3rd quarter valued at about $648,000. Manning & Napier Advisors LLC grew its stake in Genesis Energy by 40.0% in the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock valued at $3,538,000 after acquiring an additional 100,000 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in Genesis Energy in the 4th quarter valued at about $920,000. Finally, Stifel Financial Corp lifted its holdings in 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 purchasing an additional 1,819 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Stock Performance

The company has a market capitalization of $1.82 billion, a PE ratio of -11.97 and a beta of 1.92. 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 stock’s fifty day simple moving average is $11.72 and its 200-day simple moving average is $11.91.

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). The firm had revenue of $725.55 million during the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a yield of 4.45%. 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.