Royal Bank of Canada Increases Genesis Energy (NYSE:GEL) Price Target to $15.00

Genesis Energy (NYSE:GEL) had its price target increased by equities research analysts at Royal Bank of Canada from $14.00 to $15.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 0.03% from the stock’s current price.

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

Genesis Energy Stock Performance

Shares of GEL stock opened at $15.00 on Monday. The stock’s 50-day moving average is $11.63 and its two-hundred day moving average is $11.88. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -12.09 and a beta of 1.92. Genesis Energy has a 1 year low of $9.86 and a 1 year high of $15.18. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03.

Genesis Energy (NYSE:GEL) last issued 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). The firm had revenue of $725.55 million for the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%.

Hedge Funds Weigh In On Genesis Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in GEL. Millburn Ridgefield Corp purchased a new position in shares of Genesis Energy during the third quarter worth about $59,000. F M Investments LLC purchased a new position in shares of Genesis Energy during the fourth quarter worth about $122,000. Ameriprise Financial Inc. purchased a new position in shares of Genesis Energy during the fourth quarter worth about $126,000. Stifel Financial Corp grew its holdings in shares of Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after buying an additional 1,819 shares during the last quarter. Finally, Mutual Advisors LLC lifted its position in Genesis Energy by 101.8% in the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $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.

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.