Royal Bank of Canada Increases Genesis Energy (NYSE:GEL) Price Target to $16.00

Genesis Energy (NYSE:GEL) had its price target increased by Royal Bank of Canada from $15.00 to $16.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the pipeline company’s stock.

Separately, StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.

Genesis Energy Stock Performance

NYSE GEL opened at $13.50 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74. Genesis Energy has a 1-year low of $10.01 and a 1-year high of $15.17. The firm’s fifty day simple moving average is $13.32 and its 200-day simple moving average is $13.18. The company has a market capitalization of $1.65 billion, a PE ratio of 39.71 and a beta of 2.10.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. The firm had revenue of $756.26 million during the quarter. During the same quarter in the prior year, the firm posted $0.22 earnings per share.

Genesis Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 4.89%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, October 31st. Genesis Energy’s dividend payout ratio is presently 194.12%.

Insider Buying and Selling at Genesis Energy

In related news, VP Garland G. Gaspard purchased 2,261 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the purchase, the vice president now owns 19,525 shares in the company, valued at $259,096.75. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Genesis Energy

Several large investors have recently modified their holdings of the company. Mather Group LLC. bought a new position in Genesis Energy in the 1st quarter worth $55,000. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in shares of Genesis Energy during the 1st quarter worth about $111,000. Pettinga Financial Advisors LLC boosted its stake in Genesis Energy by 9.9% during the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock valued at $248,000 after purchasing an additional 2,000 shares during the period. Van ECK Associates Corp boosted its stake in Genesis Energy by 17.4% during the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 3,073 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its holdings in Genesis Energy by 4.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock valued at $372,000 after buying an additional 1,550 shares during the last quarter. 66.82% of the stock is owned by institutional investors.

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.