Genesis Energy (NYSE:GEL) Trading 3.9% Higher After Analyst Upgrade

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) 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 changed hands during 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 upgraded Genesis Energy from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $15.00 to $18.00 in a research note on Monday, March 17th.

Institutional Trading of Genesis Energy

A number of institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors boosted its position in Genesis Energy by 2.9% during the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company's stock worth $424,000 after purchasing an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Genesis Energy by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock worth $369,000 after purchasing an additional 1,584 shares in the last quarter. Stifel Financial Corp boosted its position in 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 purchasing an additional 1,819 shares in the last quarter. Mariner LLC boosted its position in Genesis Energy by 7.0% during the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock worth $359,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Genesis Energy by 6.0% during the fourth 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 hedge funds and other institutional investors.

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Genesis Energy Stock Performance

The stock has a 50-day simple moving average of $11.92 and a 200 day simple moving average of $11.94. 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 company has a market capitalization of $1.89 billion, a PE ratio of -12.46 and a beta of 1.92.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share 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.

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. The ex-dividend date was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.27%. Genesis Energy's dividend payout ratio (DPR) is -53.23%.

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.