Genesis Energy (NYSE:GEL) Price Target Increased to $16.00 by Analysts at Royal Bank of Canada

Genesis Energy (NYSE:GEL) had its target price lifted by Royal Bank of Canada from $15.00 to $16.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the pipeline company’s stock.

Separately, StockNews.com cut Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

Genesis Energy Price Performance

GEL stock opened at $13.50 on Wednesday. The firm’s 50-day moving average is $13.32 and its two-hundred day moving average is $13.18. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 39.71 and a beta of 2.10. Genesis Energy has a 52 week low of $10.01 and a 52 week high of $15.17.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. The firm had revenue of $756.26 million during the quarter. During the same period last year, the business earned $0.22 EPS.

Genesis Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, October 31st. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 4.89%. Genesis Energy’s dividend payout ratio is currently 194.12%.

Insider Buying and Selling

In related news, VP Garland G. Gaspard purchased 2,261 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $13.27 per share, with a total value of $30,003.47. Following the completion of the acquisition, the vice president now owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Genesis Energy

A number of hedge funds have recently modified their holdings of the stock. Axiom Advisory LLC lifted its holdings in shares of Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 794 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Genesis Energy by 2.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after buying an additional 887 shares in the last quarter. Custom Index Systems LLC boosted its holdings in shares of Genesis Energy by 0.9% in the second quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock worth $1,682,000 after buying an additional 1,041 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Genesis Energy by 1.0% in the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock worth $1,777,000 after buying an additional 1,286 shares during the period. Finally, Pettinga Financial Advisors LLC increased its position in shares of Genesis Energy by 9.9% in the first quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after acquiring an additional 2,000 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.