Genesis Energy (NYSE:GEL) Upgraded at Wall Street Zen

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.

Wall Street Zen upgraded shares of Genesis Energy (NYSE:GEL - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their price target on shares of Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $19.50.

Genesis Energy Stock Down 1.1%

Genesis Energy stock traded down $0.1960 during mid-day trading on Friday, reaching $16.9840. The stock had a trading volume of 499,529 shares, compared to its average volume of 410,987. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -3.34 and a beta of 1.09. The company has a 50-day moving average price of $16.90 and a two-hundred day moving average price of $14.98. Genesis Energy has a one year low of $9.86 and a one year high of $17.77. 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 results 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). The firm had revenue of $377.35 million during the quarter. Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%.Genesis Energy's quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.25) EPS.

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, July 31st. This represents a $0.66 annualized dividend and a yield of 3.9%. Genesis Energy's dividend payout ratio is currently -12.99%.

Hedge Funds Weigh In On Genesis Energy

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