Wall Street Zen Upgrades Genesis Energy (NYSE:GEL) to "Hold"

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

Several other research firms have also recently weighed in on GEL. Wells Fargo & Company raised shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $15.00 to $18.00 in a report on Monday, March 17th. Royal Bank Of Canada upped their price objective 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 Stock Up 0.3%

Shares of GEL stock traded up $0.05 during trading hours on Friday, hitting $17.46. 606,875 shares of the company's stock traded hands, compared to its average volume of 511,111. The company has a quick ratio of 1.42, a current ratio of 1.48 and a debt-to-equity ratio of 18.33. The stock's fifty day simple moving average is $15.97 and its two-hundred day simple moving average is $13.62. Genesis Energy has a 12-month low of $9.86 and a 12-month high of $18.03. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -3.35 and a beta of 1.05.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.37). Genesis Energy had a negative net margin of 20.98% and a negative return on equity of 19.28%. The business had revenue of $398.31 million for the quarter. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Genesis Energy's quarterly revenue was down 8.3% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GEL. Goldman Sachs Group Inc. grew its position in shares of Genesis Energy by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock worth $63,934,000 after purchasing an additional 478,530 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Genesis Energy during the first quarter valued at approximately $108,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Genesis Energy by 28.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company's stock worth $87,911,000 after buying an additional 1,257,712 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Genesis Energy by 12.5% during the first quarter. Advisors Asset Management Inc. now owns 248,864 shares of the pipeline company's stock worth $3,905,000 after acquiring an additional 27,673 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Genesis Energy by 220.6% in the first quarter. Royal Bank of Canada now owns 177,686 shares of the pipeline company's stock worth $2,788,000 after buying an additional 122,271 shares in the last quarter. Institutional investors own 66.82% of the company's stock.

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.