Genesis Energy (NYSE:GEL) Rating Increased to Overweight at Capital One Financial

Capital One Financial upgraded shares of Genesis Energy (NYSE:GEL) from an equal weight rating to an overweight rating in a report released on Friday morning, Marketbeat.com reports.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada lifted their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Genesis Energy Stock Performance

Shares of GEL traded down $0.26 during midday trading on Friday, reaching $11.05. The stock had a trading volume of 1,228,680 shares, compared to its average volume of 372,127. The firm has a market cap of $1.35 billion, a PE ratio of -84.99 and a beta of 2.10. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74. The firm has a 50 day simple moving average of $13.16 and a 200-day simple moving average of $13.25. Genesis Energy has a one year low of $10.01 and a one year high of $15.17.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The company had revenue of $714.30 million for the quarter. Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. During the same period last year, the firm earned $0.29 earnings per share.

Genesis Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.165 dividend. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.66 annualized dividend and a yield of 5.97%. Genesis Energy’s payout ratio is -461.50%.

Insiders Place Their Bets

In other Genesis Energy news, VP Garland G. Gaspard acquired 2,261 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the purchase, the vice president now directly owns 19,525 shares of the company’s stock, valued at $259,096.75. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Genesis Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in shares of Genesis Energy in the 1st quarter valued at approximately $111,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Genesis Energy in the 3rd quarter valued at approximately $139,000. Van ECK Associates Corp raised its position in shares of Genesis Energy by 17.4% in the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after buying an additional 3,073 shares in the last quarter. Axiom Advisory LLC raised its position in shares of Genesis Energy by 2.8% in the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after buying an additional 794 shares in the last quarter. Finally, XTX Topco Ltd raised its position in shares of Genesis Energy by 40.9% in the 2nd quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock valued at $443,000 after buying an additional 8,984 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.