Wells Fargo & Company Forecasts Strong Price Appreciation for Genesis Energy (NYSE:GEL) Stock

Genesis Energy (NYSE:GEL) had its target price lifted by Wells Fargo & Company from $12.00 to $15.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the pipeline company’s stock.

Genesis Energy Price Performance

Shares of NYSE:GEL opened at $12.92 on Wednesday. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The business’s fifty day moving average price is $11.00 and its two-hundred day moving average price is $11.89. The stock has a market cap of $1.58 billion, a PE ratio of -10.42 and a beta of 1.92. Genesis Energy has a one year low of $9.86 and a one year high of $15.17.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data 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 net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date was Friday, January 31st. Genesis Energy’s payout ratio is -53.23%.

Hedge Funds Weigh In On Genesis Energy

A number of hedge funds have recently made changes to their positions in GEL. Captrust Financial Advisors increased its stake in Genesis Energy by 2.9% during the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after acquiring an additional 900 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after purchasing an additional 1,584 shares in the last quarter. Stifel Financial Corp grew its holdings 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 worth $250,000 after purchasing an additional 1,819 shares during the period. Mariner LLC increased its position in Genesis Energy by 7.0% during the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock worth $359,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Genesis Energy by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock valued at $488,000 after buying an additional 2,717 shares during the period. Institutional investors and hedge funds 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.