Genesis Energy (NYSE:GEL - Free Report) had its price objective raised by Wells Fargo & Company from $12.00 to $15.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the pipeline company's stock.
Genesis Energy Stock Performance
GEL traded up $0.29 during trading hours on Wednesday, hitting $13.17. The stock had a trading volume of 560,348 shares, compared to its average volume of 686,290. Genesis Energy has a 1 year low of $9.86 and a 1 year high of $15.17. The company's fifty day simple moving average is $11.17 and its 200 day simple moving average is $11.89. The stock has a market cap of $1.61 billion, a PE ratio of -10.62 and a beta of 1.92. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13.
Genesis Energy (NYSE:GEL - Get Free Report) last posted its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.53). The business had revenue of $725.55 million during the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%.
Genesis Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 5.01%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy's payout ratio is currently -53.23%.
Institutional Trading of Genesis Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in GEL. Captrust Financial Advisors grew its holdings 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 buying an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position 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 valued at $369,000 after acquiring an additional 1,584 shares during the period. Stifel Financial Corp grew its stake in Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company's stock valued at $250,000 after acquiring an additional 1,819 shares in the last quarter. Mariner LLC increased its holdings in Genesis Energy by 7.0% during the 4th 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. lifted its stake in Genesis Energy by 6.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company's stock worth $488,000 after purchasing an additional 2,717 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.
Genesis Energy Company Profile
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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.
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