Royal Bank Of Canada Forecasts Strong Price Appreciation for Genesis Energy (NYSE:GEL) Stock

Key Points

• Royal Bank Of Canada has increased the price target for Genesis Energy (NYSE:GEL) from $15.00 to $18.00, indicating a potential upside of 12.32% from the current price.
• Wall Street Zen has upgraded Genesis Energy from a "sell" rating to a "hold" rating in a recent research note.
• Genesis Energy reported a quarterly earnings loss of ($0.60) per share, missing analyst expectations, with revenue down 8.3% year-over-year.
• The stock is currently trading at $16.03, with a 52-week low of $9.86 and a high of $17.59.

Genesis Energy (NYSE:GEL - Free Report) had its target price raised by Royal Bank Of Canada from $15.00 to $18.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the pipeline company's stock.

Separately, Wall Street Zen raised Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th.

Genesis Energy Trading Down 1.4%

NYSE:GEL traded down $0.23 on Friday, reaching $15.88. 343,120 shares of the company's stock were exchanged, compared to its average volume of 383,846. 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 firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -3.05 and a beta of 1.05. The business has a fifty day moving average of $16.58 and a 200-day moving average of $14.19. Genesis Energy has a 52-week low of $9.86 and a 52-week high of $17.59.

Genesis Energy (NYSE:GEL - Get Free Report) last issued 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 return on equity of 19.28% and a negative net margin of 20.98%. The business had revenue of $398.31 million for the quarter. During the same quarter in the previous year, the business earned ($0.09) EPS. Genesis Energy's revenue for the quarter was down 8.3% on a year-over-year basis.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, July 31st. Genesis Energy's dividend payout ratio is presently -12.67%.

Hedge Funds Weigh In On Genesis Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new position in Genesis Energy in the first quarter valued at approximately $108,000. F M Investments LLC acquired a new position in Genesis Energy in the fourth quarter valued at approximately $122,000. Ameriprise Financial Inc. acquired a new position in Genesis Energy in the fourth quarter valued at approximately $126,000. Cetera Investment Advisers acquired a new position in Genesis Energy in the first quarter valued at approximately $193,000. Finally, Arrow Investment Advisors LLC boosted its holdings in Genesis Energy by 21.1% in the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock valued at $215,000 after purchasing an additional 2,381 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

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.