Genesis Energy (NYSE:GEL) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Genesis Energy (NYSE:GEL) from a sell rating to a hold rating in a research note released on Tuesday morning.

A number of other research firms also recently issued reports on GEL. Wells Fargo & Company raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $18.00 in a research note on Monday, March 17th. Royal Bank of Canada boosted their target price on Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, March 17th.

Genesis Energy Trading Up 2.0%

GEL opened at $15.29 on Tuesday. The stock has a market capitalization of $1.87 billion, a PE ratio of -12.33 and a beta of 1.08. Genesis Energy has a one year low of $9.86 and a one year high of $16.44. 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 50 day moving average price is $14.18 and its 200 day moving average price is $12.22.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.37). The business had revenue of $398.31 million for the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Wednesday, April 30th. Genesis Energy’s payout ratio is -12.67%.

Institutional Investors Weigh In On Genesis Energy

Several large investors have recently added to or reduced their stakes in the business. F M Investments LLC acquired a new position in shares of Genesis Energy in the fourth quarter worth $122,000. Ameriprise Financial Inc. acquired a new position in shares of Genesis Energy during the fourth quarter worth about $126,000. Cetera Investment Advisers purchased a new stake in shares of Genesis Energy during the first quarter worth approximately $193,000. Arrow Investment Advisors LLC raised its holdings in Genesis Energy by 21.1% in the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company’s stock valued at $215,000 after acquiring an additional 2,381 shares in the last quarter. Finally, Mutual Advisors LLC raised its holdings in Genesis Energy by 101.8% in the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $341,000 after acquiring an additional 16,099 shares in the last quarter. 66.82% of the stock is 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.