Genesis Energy (NYSE:GEL) Price Target Raised to $15.00 at Royal Bank of Canada

Genesis Energy (NYSE:GEL) had its price target boosted by Royal Bank of Canada from $14.00 to $15.00 in a research report report published on Monday morning,Benzinga reports. They currently have an outperform rating on the pipeline company’s stock.

Separately, Wells Fargo & Company raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $15.00 to $18.00 in a report on Monday.

Genesis Energy Price Performance

GEL opened at $14.35 on Monday. The company has a 50-day moving average of $11.54 and a 200-day moving average of $11.88. The company has a market capitalization of $1.76 billion, a P/E ratio of -11.57 and a beta of 1.92. Genesis Energy has a 1-year low of $9.86 and a 1-year high of $15.17. 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 (NYSE:GEL) last released its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.53). The company had revenue of $725.55 million during the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Friday, January 31st. Genesis Energy’s payout ratio is -53.23%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. ING Groep NV grew its position in Genesis Energy by 12.1% in the 4th quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock worth $8,644,000 after purchasing an additional 92,300 shares during the last quarter. BBR Partners LLC bought a new position in Genesis Energy in the 3rd quarter worth about $648,000. Manning & Napier Advisors LLC grew its position in Genesis Energy by 40.0% in the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock worth $3,538,000 after purchasing an additional 100,000 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Genesis Energy in the 4th quarter worth about $920,000. Finally, Stifel Financial Corp grew its position in Genesis Energy by 10.8% in the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 1,819 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

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.