Genesis Energy (NYSE:GEL) Given New $20.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has raised its target price for Genesis Energy (NYSE:GEL) from $18.00 to $20.00, indicating a potential upside of 17.03% based on the company's last closing price.
• Other analysts, including Wells Fargo, have also increased their price targets for Genesis Energy, with Wells Fargo setting it at $19.00 and upgrading the stock to an "overweight" rating.
• Genesis Energy reported a quarterly earnings loss of ($0.12) per share, which was below analysts' expectations, and experienced a year-over-year revenue decline of 12.3%.

Genesis Energy (NYSE:GEL - Free Report) had its price objective boosted by Royal Bank Of Canada from $18.00 to $20.00 in a report issued on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the pipeline company's stock.

Several other research firms also recently commented on GEL. Wells Fargo & Company lifted their price objective on Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Friday. Wall Street Zen upgraded Genesis Energy from a "sell" rating to a "hold" rating in a report on Saturday, July 5th.

Genesis Energy Price Performance

NYSE GEL traded down $0.21 during trading hours on Friday, reaching $16.84. 143,888 shares of the stock traded hands, compared to its average volume of 589,841. The stock has a 50 day simple moving average of $16.70 and a two-hundred day simple moving average of $14.50. Genesis Energy has a 1 year low of $9.86 and a 1 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. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -3.31 and a beta of 1.09.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The company 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%. The company's revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.25) EPS.

Genesis Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.165 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $0.66 annualized dividend and a dividend yield of 3.9%. Genesis Energy's dividend payout ratio (DPR) is presently -12.99%.

Institutional Trading of Genesis Energy

Large investors have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in Genesis Energy during the 1st quarter valued at approximately $108,000. F M Investments LLC bought a new stake in Genesis Energy during the 4th quarter valued at approximately $122,000. Ameriprise Financial Inc. bought a new stake in Genesis Energy during the 4th quarter valued at approximately $126,000. Cetera Investment Advisers bought a new stake in Genesis Energy during the 1st quarter valued at approximately $193,000. Finally, Arrow Investment Advisors LLC boosted its position in Genesis Energy by 21.1% during the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock valued at $215,000 after acquiring an additional 2,381 shares in the last quarter. 66.82% of the stock is owned by institutional investors.

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.