Genesis Energy (NYSE:GEL) Price Target Raised to $15.00

Genesis Energy (NYSE:GEL) had its price objective lifted by Royal Bank of Canada from $14.00 to $15.00 in a report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the pipeline company’s stock.

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

Genesis Energy Stock Down 0.9 %

Shares of Genesis Energy stock opened at $14.85 on Monday. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. Genesis Energy has a 52-week low of $9.86 and a 52-week high of $15.18. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -11.97 and a beta of 1.92. The company’s 50 day moving average price is $11.72 and its 200-day moving average price is $11.91.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) 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 firm had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.45%. The ex-dividend date was Friday, January 31st. Genesis Energy’s dividend payout ratio (DPR) is currently -53.23%.

Institutional Trading of Genesis Energy

Several large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its holdings in Genesis Energy by 2.9% in the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after acquiring an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Genesis Energy by 4.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after acquiring an additional 1,584 shares in the last quarter. Stifel Financial Corp boosted its holdings in Genesis Energy by 10.8% in the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after acquiring an additional 1,819 shares in the last quarter. Mariner LLC boosted its holdings in Genesis Energy by 7.0% in the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock valued at $359,000 after acquiring an additional 2,321 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Genesis Energy by 6.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock valued at $488,000 after buying an additional 2,717 shares during the period. 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.