Genesis Energy (NYSE:GEL) Upgraded at StockNews.com

StockNews.com upgraded shares of Genesis Energy (NYSE:GEL) from a sell rating to a hold rating in a report issued on Tuesday.

A number of other research firms also recently commented on GEL. Royal Bank of Canada increased their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, March 17th. Wells Fargo & Company raised Genesis Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $15.00 to $18.00 in a report on Monday, March 17th.

Genesis Energy Trading Up 2.0%

GEL opened at $15.29 on Tuesday. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. Genesis Energy has a one year low of $9.86 and a one year high of $16.44. The company has a market cap of $1.87 billion, a P/E ratio of -12.33 and a beta of 1.08. The business’s 50-day simple moving average is $14.18 and its 200-day simple moving average is $12.22.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.37). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The business had revenue of $398.31 million during the quarter. During the same period last year, the business earned ($0.09) earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.32%. Genesis Energy’s dividend payout ratio (DPR) is presently -12.67%.

Institutional Trading of Genesis Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. F M Investments LLC purchased a new position in Genesis Energy during the 4th quarter worth $122,000. Cetera Investment Advisers acquired a new stake in shares of Genesis Energy during the first quarter worth about $193,000. Ameriprise Financial Inc. purchased a new position in shares of Genesis Energy during the fourth quarter worth about $126,000. Arrow Investment Advisors LLC increased its position in Genesis Energy by 21.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company’s stock valued at $215,000 after acquiring an additional 2,381 shares during the period. Finally, Mutual Advisors LLC raised its stake in Genesis Energy by 101.8% during the 4th 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 last quarter. Hedge funds and other 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.