Genesis Energy (NYSE:GEL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Genesis Energy (NYSE:GEL) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company raised Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Royal Bank Of Canada boosted their price objective on Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th.

Genesis Energy Trading Up 0.9%

Shares of NYSE GEL opened at $17.47 on Friday. The business’s 50 day moving average is $15.84 and its two-hundred day moving average is $13.52. The company has a debt-to-equity ratio of 18.33, a current ratio of 1.48 and a quick ratio of 1.42. Genesis Energy has a 1-year low of $9.86 and a 1-year high of $17.50. The stock has a market capitalization of $2.14 billion, a P/E ratio of -3.35 and a beta of 1.05.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.37). Genesis Energy had a negative return on equity of 19.28% and a negative net margin of 20.98%. The company had revenue of $398.31 million for the quarter. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Genesis Energy’s revenue was down 8.3% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a dividend of $0.165 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.78%. Genesis Energy’s dividend payout ratio is -12.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in shares of Genesis Energy by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock valued at $63,934,000 after buying an additional 478,530 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Genesis Energy during the first quarter valued at approximately $108,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Genesis Energy by 28.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company’s stock valued at $87,911,000 after buying an additional 1,257,712 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Genesis Energy by 12.5% during the first quarter. Advisors Asset Management Inc. now owns 248,864 shares of the pipeline company’s stock valued at $3,905,000 after buying an additional 27,673 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Genesis Energy by 220.6% during the first quarter. Royal Bank of Canada now owns 177,686 shares of the pipeline company’s stock valued at $2,788,000 after buying an additional 122,271 shares during 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.