Genesis Energy (NYSE:GEL) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

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

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

Genesis Energy Stock Performance

Shares of Genesis Energy stock opened at $14.85 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The firm has a market capitalization of $1.82 billion, a P/E ratio of -11.97 and a beta of 1.92. The business has a fifty day simple moving average of $11.72 and a two-hundred day simple moving average of $11.91. Genesis Energy has a 12 month low of $9.86 and a 12 month high of $15.18.

Genesis Energy (NYSE:GEL) last posted 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 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Friday, January 31st. Genesis Energy’s dividend payout ratio is presently -53.23%.

Institutional Investors Weigh In On Genesis Energy

Large investors have recently bought and sold shares of the business. Millburn Ridgefield Corp bought a new stake in Genesis Energy in the 3rd quarter worth about $59,000. F M Investments LLC bought a new stake in Genesis Energy in the 4th quarter worth about $122,000. Ameriprise Financial Inc. bought a new stake in Genesis Energy in the 4th quarter worth about $126,000. Stifel Financial Corp increased its holdings 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 buying an additional 1,819 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Genesis Energy by 2.9% in the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after buying an additional 900 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.

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.