Genesis Energy (NYSE:GEL) Price Target Raised to $19.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised its price target for Genesis Energy from $18.00 to $19.00, suggesting a potential upside of 11.86% from the stock's previous close.
• Genesis Energy's stock is currently trading at $16.99 after a 2.2% decline, with a 12-month high of $17.77 and low of $9.86.
• The company reported a loss of $0.12 per share in its latest earnings, missing analyst expectations and reflecting a 12.3% decline in revenue year-over-year.

Genesis Energy (NYSE:GEL - Free Report) had its price target upped by Wells Fargo & Company from $18.00 to $19.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the pipeline company's stock.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada boosted their target price on Genesis Energy from $15.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Wall Street Zen upgraded Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th.

Genesis Energy Stock Performance

Shares of NYSE:GEL traded up $0.08 during midday trading on Friday, reaching $17.12. 441,987 shares of the company traded hands, compared to its average volume of 591,411. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 18.85. Genesis Energy has a 12 month low of $9.86 and a 12 month high of $17.77. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -3.37 and a beta of 1.09. The firm's fifty day moving average price is $16.70 and its two-hundred day moving average price is $14.50.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The company had revenue of $377.35 million for the quarter. During the same quarter last year, the firm posted ($0.25) EPS. The business's revenue for the quarter was down 12.3% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, July 31st. Genesis Energy's dividend payout ratio is presently -12.99%.

Institutional Investors Weigh In On Genesis Energy

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new position in Genesis Energy during the 1st quarter valued at approximately $108,000. F M Investments LLC bought a new stake in shares of Genesis Energy in the 4th quarter worth $122,000. Cetera Investment Advisers bought a new stake in shares of Genesis Energy in the 1st quarter worth $193,000. Ameriprise Financial Inc. bought a new stake in shares of Genesis Energy in the fourth quarter worth $126,000. Finally, Arrow Investment Advisors LLC grew its holdings in shares of Genesis Energy by 21.1% in the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock worth $215,000 after acquiring an additional 2,381 shares during the period. 66.82% of the stock is currently owned by hedge funds and other 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.