Genesis Energy (NYSE:GEL) Shares Gap Up Following Analyst Upgrade

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) gapped up prior to trading on Monday after Royal Bank of Canada raised their price target on the stock from $14.00 to $15.00. The stock had previously closed at $13.25, but opened at $13.64. Royal Bank of Canada currently has an outperform rating on the stock. Genesis Energy shares last traded at $13.69, with a volume of 44,823 shares trading hands.

Separately, Wells Fargo & Company raised shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $15.00 to $18.00 in a research report on Monday.

Institutional Investors Weigh In On Genesis Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. lifted its position in Genesis Energy by 1.3% during the 4th 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 bought a new stake in Genesis Energy during the 4th quarter worth approximately $1,449,000. Captrust Financial Advisors increased its stake in Genesis Energy by 9.1% during the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company's stock worth $350,000 after purchasing an additional 2,900 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Genesis Energy during the 4th quarter worth approximately $126,000. Finally, Callodine Capital Management LP grew its stake in shares of Genesis Energy by 40.0% during the 4th quarter. Callodine Capital Management LP now owns 350,000 shares of the pipeline company's stock worth $3,538,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

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Genesis Energy Stock Down 0.9 %

The company has a market capitalization of $1.82 billion, a P/E ratio of -11.97 and a beta of 1.92. The firm's 50 day moving average price is $11.63 and its two-hundred day moving average price is $11.88. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $725.55 million for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy's payout ratio is currently -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.