Wells Fargo & Company upgraded shares of Genesis Energy (NYSE:GEL - Free Report) from an equal weight rating to an overweight rating in a research report sent to investors on Monday, Marketbeat.com reports. They currently have $18.00 price target on the pipeline company's stock, up from their previous price target of $15.00.
Genesis Energy Stock Performance
Shares of NYSE:GEL traded down $0.26 on Monday, hitting $14.73. 439,567 shares of the company were exchanged, compared to its average volume of 442,720. The firm has a market capitalization of $1.80 billion, a P/E ratio of -11.87 and a beta of 1.92. 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 has a 1-year low of $9.86 and a 1-year high of $15.20. The stock's 50 day moving average price is $11.63 and its 200 day moving average price is $11.88.
Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates 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%.
Genesis Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy's payout ratio is -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. Millburn Ridgefield Corp purchased a new stake in Genesis Energy in the third quarter valued at $59,000. F M Investments LLC purchased a new stake in shares of Genesis Energy in the fourth quarter worth about $122,000. Ameriprise Financial Inc. acquired a new stake in Genesis Energy during the fourth quarter worth about $126,000. Stifel Financial Corp raised 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 valued at $250,000 after acquiring an additional 1,819 shares in the last quarter. Finally, Mutual Advisors LLC lifted its holdings 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 acquiring an additional 16,099 shares during the period. Institutional investors and hedge funds own 66.82% of the company's stock.
About Genesis Energy
(
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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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