Genesis Energy (NYSE:GEL) Shares Up 3.9% Following Analyst Upgrade

Genesis Energy, L.P. (NYSE:GEL)’s share price traded up 3.9% on Tuesday after Royal Bank of Canada raised their price target on the stock from $14.00 to $15.00. Royal Bank of Canada currently has an outperform rating on the stock. Genesis Energy traded as high as $14.95 and last traded at $14.92. 727,358 shares traded hands during trading, an increase of 5% from the average session volume of 695,901 shares. The stock had previously closed at $14.36.

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

Institutional Investors Weigh In On Genesis Energy

Institutional investors have recently made changes to their positions in the business. Millburn Ridgefield Corp purchased a new stake in shares of Genesis Energy in the 3rd quarter valued at $59,000. F M Investments LLC purchased a new stake in shares of Genesis Energy in the 4th quarter valued at $122,000. Ameriprise Financial Inc. purchased a new stake in shares of Genesis Energy in the 4th quarter valued at $126,000. Stifel Financial Corp boosted its position in Genesis Energy by 10.8% during 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 period. Finally, Mutual Advisors LLC lifted its position in shares of Genesis Energy by 101.8% in the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock worth $341,000 after purchasing an additional 16,099 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

The company’s 50-day moving average price is $11.54 and its 200 day moving average price is $11.88. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The stock has a market capitalization of $1.83 billion, a PE ratio of -12.06 and a beta of 1.92.

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

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.165 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 4.41%. Genesis Energy’s payout ratio is -53.23%.

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.