Genesis Energy (NYSE:GEL) Upgraded at Capital One Financial

Capital One Financial upgraded shares of Genesis Energy (NYSE:GEL) from an equal weight rating to an overweight rating in a research note released on Friday, MarketBeat reports.

GEL has been the topic of several other research reports. Royal Bank of Canada raised their price target on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. 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 Down 2.3 %

GEL stock opened at $11.05 on Friday. The firm has a market cap of $1.35 billion, a PE ratio of -14.93 and a beta of 2.12. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09. The firm’s fifty day moving average is $13.16 and its 200 day moving average is $13.26. Genesis Energy has a one year low of $10.01 and a one year high of $15.17.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The firm had revenue of $714.30 million for the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.30%. During the same quarter in the previous year, the company posted $0.29 EPS.

Genesis Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.165 dividend. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.97%. Genesis Energy’s dividend payout ratio (DPR) is -89.19%.

Insider Activity

In related news, VP Garland G. Gaspard bought 2,261 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the completion of the transaction, the vice president now directly owns 19,525 shares in the company, valued at $259,096.75. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Genesis Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Chickasaw Capital Management LLC lifted its stake in shares of Genesis Energy by 6.5% in the second quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock worth $61,411,000 after buying an additional 262,784 shares in the last quarter. Creative Planning lifted its stake in shares of Genesis Energy by 1.9% in the third quarter. Creative Planning now owns 3,105,454 shares of the pipeline company’s stock worth $41,520,000 after buying an additional 59,263 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Genesis Energy by 19.9% in the first quarter. Advisors Asset Management Inc. now owns 208,150 shares of the pipeline company’s stock worth $2,315,000 after buying an additional 34,614 shares in the last quarter. ELCO Management Co. LLC lifted its stake in shares of Genesis Energy by 10.7% in the second quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company’s stock worth $2,695,000 after buying an additional 18,170 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Genesis Energy by 1.0% in the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock worth $1,777,000 after buying an additional 1,286 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other 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.