Genesis Energy (NYSE:GEL) Trading 3.9% Higher Following Analyst Upgrade

Genesis Energy, L.P. (NYSE:GEL)’s share price was up 3.9% during mid-day trading 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. Approximately 727,358 shares were traded during mid-day trading, an increase of 5% from the average daily 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 increased their price target for the stock from $15.00 to $18.00 in a research note on Monday.

Institutional Trading of Genesis Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Genesis Energy by 4.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock worth $369,000 after acquiring an additional 1,584 shares during the period. Stifel Financial Corp grew its stake 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 worth $250,000 after acquiring an additional 1,819 shares during the period. Mariner LLC grew its stake in shares of Genesis Energy by 7.0% in the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock worth $359,000 after acquiring an additional 2,321 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Genesis Energy by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock worth $488,000 after acquiring an additional 2,717 shares during the period. 66.82% of the stock is currently owned by institutional investors.

Genesis Energy Price Performance

The business’s 50 day moving average price is $11.54 and its 200 day moving average price is $11.88. The stock has a market capitalization of $1.83 billion, a P/E ratio of -12.06 and a beta of 1.92. 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 announced 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). 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 disclosed 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 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Friday, January 31st. 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.