Genesis Energy (NYSE:GEL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Genesis Energy (NYSE:GEL) had its price objective raised by analysts at Wells Fargo & Company from $12.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 16.21% from the stock’s current price.

Genesis Energy Stock Up 0.2 %

GEL opened at $12.91 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -10.41 and a beta of 1.92. Genesis Energy has a twelve month low of $9.86 and a twelve month high of $15.17. The company’s 50-day moving average price is $11.06 and its two-hundred day moving average price is $11.90.

Genesis Energy (NYSE:GEL) last released its earnings results 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 company had revenue of $725.55 million during the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ING Groep NV lifted its stake in shares of Genesis Energy by 12.1% during the 4th quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock valued at $8,644,000 after buying an additional 92,300 shares in the last quarter. BBR Partners LLC purchased a new stake in shares of Genesis Energy during the 3rd quarter valued at approximately $648,000. Manning & Napier Advisors LLC lifted its stake in shares of Genesis Energy by 40.0% during the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock valued at $3,538,000 after buying an additional 100,000 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Genesis Energy during the 4th quarter valued at approximately $920,000. Finally, Stifel Financial Corp lifted its stake in shares of Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after buying an additional 1,819 shares in the last quarter. 66.82% of the stock is currently owned by hedge funds and other 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.