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 research report sent to investors on Friday morning, Marketbeat Ratings reports.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Genesis Energy Trading Down 2.3 %

NYSE GEL opened at $10.80 on Friday. Genesis Energy has a 12 month low of $10.01 and a 12 month high of $15.17. The company’s 50-day moving average price is $13.16 and its 200-day moving average price is $13.27. The stock has a market cap of $1.32 billion, a PE ratio of -14.59 and a beta of 2.12. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.30%. The company had revenue of $714.30 million for the quarter. During the same period last year, the firm earned $0.29 EPS.

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 6.11%. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s payout ratio is currently -89.19%.

Institutional Investors Weigh In On Genesis Energy

Several large investors have recently modified their holdings of GEL. Creative Planning bought a new stake in shares of Genesis Energy in the 2nd quarter valued at about $43,591,000. Chickasaw Capital Management LLC raised its stake in shares of Genesis Energy by 6.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock worth $61,411,000 after acquiring an additional 262,784 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of Genesis Energy by 184.1% during the 1st quarter. GSA Capital Partners LLP now owns 120,932 shares of the pipeline company’s stock worth $1,345,000 after acquiring an additional 78,369 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Genesis Energy during the 2nd quarter worth approximately $1,073,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Genesis Energy during the 2nd quarter worth approximately $1,013,000. Institutional investors own 66.82% of the company’s stock.

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.