Royal Bank of Canada Issues Positive Forecast for Genesis Energy (NYSE:GEL) Stock Price

Genesis Energy (NYSE:GEL - Free Report) had its price objective increased by Royal Bank of Canada from $14.00 to $15.00 in a research report report published on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the pipeline company's stock.

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

Genesis Energy Price Performance

GEL stock traded up $0.40 during midday trading on Monday, reaching $15.45. The company had a trading volume of 3,398,561 shares, compared to its average volume of 457,730. The firm has a 50-day moving average price of $11.82 and a 200-day moving average price of $11.93. The company has a market capitalization of $1.89 billion, a P/E ratio of -12.46 and a beta of 1.92. Genesis Energy has a 1 year low of $9.86 and a 1 year high of $15.79. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings data 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). The firm 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%.

Remove Ads

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.165 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 4.27%. Genesis Energy's payout ratio is presently -53.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GEL. BBR Partners LLC bought a new stake in shares of Genesis Energy during the 3rd quarter valued at about $648,000. Infrastructure Capital Advisors LLC grew its holdings in shares of Genesis Energy by 1.0% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 780,212 shares of the pipeline company's stock worth $10,431,000 after acquiring an additional 7,604 shares during the period. Captrust Financial Advisors raised its position in shares of Genesis Energy by 2.9% in the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company's stock worth $424,000 after acquiring an additional 900 shares in the last quarter. Murchinson Ltd. bought a new position in shares of Genesis Energy in the 3rd quarter worth approximately $1,005,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Genesis Energy in the 3rd quarter valued at approximately $59,000. Institutional investors own 66.82% of the company's stock.

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.