Genesis Energy (NYSE:GEL) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Genesis Energy has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, signaling a more positive outlook for the company.
• Royal Bank of Canada and Wells Fargo both raised their price targets for Genesis Energy to $20.00 and $19.00 respectively, reflecting confidence in the company's performance.
• Despite an increase in trading prices, Genesis Energy reported a quarterly loss of ($0.12) earnings per share, falling short of estimates and showing a revenue decrease of 12.3% year-over-year.

Genesis Energy (NYSE:GEL - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Several other brokerages have also weighed in on GEL. Royal Bank Of Canada increased their price objective on shares of Genesis Energy from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Wells Fargo & Company upped their target price on shares of Genesis Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Friday, August 1st.

Genesis Energy Trading Up 0.7%

Shares of NYSE GEL opened at $16.93 on Friday. The company's 50 day simple moving average is $16.87 and its 200 day simple moving average is $14.84. Genesis Energy has a fifty-two week low of $9.86 and a fifty-two week high of $17.77. The firm has a market capitalization of $2.07 billion, a P/E ratio of -3.33 and a beta of 1.09. The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $377.35 million during the quarter. During the same quarter in the prior year, the company earned ($0.25) EPS. Genesis Energy's revenue for the quarter was down 12.3% compared to the same quarter last year.

Institutional Investors Weigh In On Genesis Energy

Several large investors have recently bought and sold shares of the company. Alps Advisors Inc. increased its position in shares of Genesis Energy by 16.6% during the first quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company's stock worth $376,877,000 after acquiring an additional 3,422,967 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of Genesis Energy by 411.6% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 110,658 shares of the pipeline company's stock worth $1,736,000 after acquiring an additional 89,029 shares in the last quarter. Miller Howard Investments Inc. NY bought a new stake in shares of Genesis Energy during the first quarter worth $19,336,000. Manning & Napier Advisors LLC increased its position in shares of Genesis Energy by 28.6% during the first quarter. Manning & Napier Advisors LLC now owns 450,000 shares of the pipeline company's stock worth $7,060,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Jefferies Financial Group Inc. increased its position in shares of Genesis Energy by 19.9% during the first quarter. Jefferies Financial Group Inc. now owns 1,861,276 shares of the pipeline company's stock worth $29,203,000 after acquiring an additional 309,019 shares in the last quarter. Institutional investors own 66.82% of the company's stock.

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.

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