Genesis Energy (NYSE:GEL) Given New $15.00 Price Target at Wells Fargo & Company

Genesis Energy (NYSE:GEL) had its target price raised by Wells Fargo & Company from $12.00 to $15.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the pipeline company’s stock.

Genesis Energy Stock Down 1.2 %

GEL stock opened at $12.92 on Wednesday. The stock has a market capitalization of $1.58 billion, a PE ratio of -10.42 and a beta of 1.92. The company has a fifty day moving average of $11.00 and a 200-day moving average of $11.89. 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 one year low of $9.86 and a one year high of $15.17.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). The business 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 business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.11%. Genesis Energy’s payout ratio is currently -53.23%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEL. Millburn Ridgefield Corp purchased a new stake in shares of Genesis Energy during the 3rd quarter worth approximately $59,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Genesis Energy during the third quarter worth $139,000. F M Investments LLC purchased a new stake in Genesis Energy during the fourth quarter worth $122,000. Ameriprise Financial Inc. acquired a new stake in Genesis Energy in the fourth quarter valued at $126,000. Finally, Stifel Financial Corp increased its position in shares of 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 buying an additional 1,819 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.