Royal Bank of Canada Forecasts Strong Price Appreciation for Genesis Energy (NYSE:GEL) Stock

Genesis Energy (NYSE:GEL) had its target price raised by research analysts at Royal Bank of Canada from $14.00 to $15.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 8.19% from the company’s previous close.

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

Genesis Energy Stock Performance

Shares of GEL stock traded up $0.61 during trading hours on Monday, reaching $13.86. The stock had a trading volume of 138,765 shares, compared to its average volume of 436,113. The firm has a market capitalization of $1.70 billion, a PE ratio of -11.07 and a beta of 1.92. The firm has a 50-day simple moving average of $11.46 and a 200-day simple moving average of $11.87. Genesis Energy has a twelve month low of $9.86 and a twelve month high of $15.17. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). The business had revenue of $725.55 million for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Institutional Trading of Genesis Energy

Several hedge funds and other institutional investors have recently modified their holdings of GEL. Millburn Ridgefield Corp purchased a new position in shares of Genesis Energy during the 3rd quarter valued at $59,000. F M Investments LLC acquired a new stake in shares of Genesis Energy in the fourth quarter worth $122,000. Ameriprise Financial Inc. bought a new stake in shares of Genesis Energy during the 4th quarter worth $126,000. Stifel Financial Corp grew its stake in Genesis Energy by 10.8% in the 3rd 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 during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Genesis Energy by 2.9% in the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds 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.