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

Genesis Energy (NYSE:GEL) had its price objective hoisted by research analysts at Wells Fargo & Company from $12.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.14% from the stock’s previous close.

Genesis Energy Trading Down 1.2 %

Shares of NYSE:GEL traded down $0.16 during trading on Wednesday, reaching $12.92. The company’s stock had a trading volume of 538,486 shares, compared to its average volume of 687,012. The stock has a market capitalization of $1.58 billion, a PE ratio of -10.42 and a beta of 1.92. Genesis Energy has a 12 month low of $9.86 and a 12 month high of $15.17. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The firm’s 50 day simple moving average is $11.00 and its two-hundred day simple moving average is $11.89.

Genesis Energy (NYSE:GEL) last announced its 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.

Hedge Funds Weigh In On Genesis Energy

Several hedge funds have recently bought and sold shares of the business. Jefferies Financial Group Inc. raised its stake in Genesis Energy by 1.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company’s stock worth $15,693,000 after buying an additional 20,000 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in shares of Genesis Energy during the fourth quarter valued at about $1,449,000. Captrust Financial Advisors boosted its holdings in shares of Genesis Energy by 9.1% in the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company’s stock valued at $350,000 after buying an additional 2,900 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Genesis Energy in the 4th quarter worth approximately $126,000. Finally, Callodine Capital Management LP grew its position in shares of Genesis Energy by 40.0% in the 4th quarter. Callodine Capital Management LP now owns 350,000 shares of the pipeline company’s stock worth $3,538,000 after buying an additional 100,000 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

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.