Genesis Energy (NYSE:GEL) Price Target Raised to $19.00

Genesis Energy (NYSE:GEL) had its price target increased by Wells Fargo & Company from $18.00 to $19.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the pipeline company’s stock.

A number of other brokerages also recently issued reports on GEL. Royal Bank Of Canada boosted their price objective on Genesis Energy from $15.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Wall Street Zen raised Genesis Energy from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th.

Genesis Energy Stock Down 2.0%

Shares of NYSE:GEL opened at $17.02 on Friday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -3.35 and a beta of 1.09. The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85. The business’s 50-day moving average is $16.69 and its 200-day moving average is $14.46. Genesis Energy has a 1 year low of $9.86 and a 1 year high of $17.77.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). The business had revenue of $377.35 million during the quarter. Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. Genesis Energy’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.25) earnings per share.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, July 31st. Genesis Energy’s payout ratio is presently -12.67%.

Institutional Trading of Genesis Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEL. Alps Advisors Inc. increased its position in Genesis Energy by 16.6% in the 1st quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company’s stock valued at $376,877,000 after buying an additional 3,422,967 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Genesis Energy by 28.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company’s stock worth $87,911,000 after purchasing an additional 1,257,712 shares in the last quarter. Miller Howard Investments Inc. NY bought a new stake in Genesis Energy during the 1st quarter worth approximately $19,336,000. Goldman Sachs Group Inc. increased its holdings in Genesis Energy by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock worth $63,934,000 after purchasing an additional 478,530 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock worth $47,169,000 after purchasing an additional 418,555 shares in the last quarter. 66.82% of the stock is owned by institutional investors.

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.