Genesis Energy (NYSE:GEL) Trading Up 3.9% After Analyst Upgrade

Genesis Energy, L.P. (NYSE:GEL)’s share price shot up 3.9% on Tuesday after Royal Bank of Canada raised their price target on the stock from $14.00 to $15.00. Royal Bank of Canada currently has an outperform rating on the stock. Genesis Energy traded as high as $14.95 and last traded at $14.92. 727,358 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 695,901 shares. The stock had previously closed at $14.36.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GEL. BBR Partners LLC acquired a new stake in Genesis Energy during the third quarter worth about $648,000. Infrastructure Capital Advisors LLC grew its holdings in shares of Genesis Energy by 1.0% during the third quarter. Infrastructure Capital Advisors LLC now owns 780,212 shares of the pipeline company’s stock valued at $10,431,000 after purchasing an additional 7,604 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after purchasing an additional 900 shares during the period. Murchinson Ltd. acquired a new stake in shares of Genesis Energy during the 3rd quarter worth approximately $1,005,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of Genesis Energy in the 3rd quarter worth approximately $59,000. 66.82% of the stock is currently owned by institutional investors.

Genesis Energy Stock Up 4.4 %

The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -12.09 and a beta of 1.92. The stock has a 50-day moving average of $11.63 and a 200-day moving average of $11.88. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate 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%.

Genesis Energy Announces Dividend

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 4.40%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s payout ratio is -53.23%.

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.