Royal Bank of Canada Boosts Genesis Energy (NYSE:GEL) Price Target to $16.00

Genesis Energy (NYSE:GEL - Get Free Report) had its price target boosted by investment analysts at Royal Bank of Canada from $15.00 to $16.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the pipeline company's stock. Royal Bank of Canada's target price suggests a potential upside of 18.52% from the company's current price.

Separately, StockNews.com cut Genesis Energy from a "hold" rating to a "sell" rating in a report on Monday, August 5th.

Genesis Energy Price Performance

GEL stock remained flat at $13.50 on Wednesday. The company had a trading volume of 204,028 shares, compared to its average volume of 356,883. Genesis Energy has a 1-year low of $10.01 and a 1-year high of $15.17. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96. The company has a market capitalization of $1.65 billion, a P/E ratio of 39.71 and a beta of 2.10. The business has a 50 day simple moving average of $13.32 and a two-hundred day simple moving average of $13.18.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.22). The business had revenue of $756.26 million for the quarter. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. During the same quarter last year, the business earned $0.22 earnings per share.

Insider Transactions at Genesis Energy

In related news, VP Garland G. Gaspard bought 2,261 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were bought at an average cost of $13.27 per share, with a total value of $30,003.47. Following the completion of the transaction, the vice president now directly owns 19,525 shares of the company's stock, valued at approximately $259,096.75. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Genesis Energy by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company's stock valued at $67,126,000 after buying an additional 760,739 shares in the last quarter. Chickasaw Capital Management LLC grew its stake in Genesis Energy by 6.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company's stock valued at $61,411,000 after acquiring an additional 262,784 shares in the last quarter. Creative Planning increased its holdings in shares of Genesis Energy by 1.9% in the 3rd quarter. Creative Planning now owns 3,105,454 shares of the pipeline company's stock valued at $41,520,000 after purchasing an additional 59,263 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Genesis Energy by 9.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company's stock worth $24,743,000 after purchasing an additional 189,610 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Genesis Energy by 19.9% during the first quarter. Advisors Asset Management Inc. now owns 208,150 shares of the pipeline company's stock worth $2,315,000 after purchasing an additional 34,614 shares during the period. 66.82% of the stock is owned by hedge funds and other institutional investors.

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.