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

Genesis Energy, L.P. (NYSE:GEL) shares traded up 3.9% during 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. 727,358 shares were traded during mid-day 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 raised Genesis Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $15.00 to $18.00 in a report on Monday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Genesis Energy by 1.0% during the fourth quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company’s stock worth $185,929,000 after purchasing an additional 178,369 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock valued at $47,169,000 after purchasing an additional 418,555 shares during the period. Chickasaw Capital Management LLC raised its stake in shares of Genesis Energy by 0.4% in the 4th quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company’s stock worth $38,776,000 after buying an additional 15,027 shares in the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of 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 valued at $15,693,000 after buying an additional 20,000 shares during the period. Finally, ING Groep NV boosted its stake in Genesis Energy by 12.1% during the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock valued at $8,644,000 after buying an additional 92,300 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.

Genesis Energy Trading Up 4.4 %

The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The business has a fifty day moving average of $11.63 and a 200-day moving average of $11.88. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -12.09 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (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 business 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. Shareholders of record on Friday, January 31st were given a $0.165 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.66 annualized dividend and a yield of 4.40%. Genesis Energy’s dividend payout ratio (DPR) is -53.23%.

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.