Genesis Energy (NYSE:GEL) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Genesis Energy (NYSE:GEL – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the pipeline company’s stock.

Separately, Wells Fargo & Company lifted their price target on Genesis Energy from $12.00 to $13.00 and gave the company an equal weight rating in a research note on Thursday, March 2nd.

Genesis Energy Stock Down 4.5 %

Shares of GEL stock opened at $11.13 on Thursday. The business’s 50 day moving average is $11.37 and its two-hundred day moving average is $10.77. Genesis Energy has a twelve month low of $7.61 and a twelve month high of $13.34. The company has a current ratio of 1.20, a quick ratio of 1.09 and a debt-to-equity ratio of 3.92.

Genesis Energy (NYSE:GEL – Get Rating) last announced its earnings results on Wednesday, February 22nd. The pipeline company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Genesis Energy had a return on equity of 8.56% and a net margin of 2.71%. The company had revenue of $714.00 million for the quarter. During the same quarter last year, the business posted ($0.71) earnings per share. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Tuesday, January 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, January 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.39%. Genesis Energy’s dividend payout ratio (DPR) is presently -2,000.00%.

Institutional Trading of Genesis Energy

A number of institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new stake in Genesis Energy during the fourth quarter worth $29,000. Tower Research Capital LLC TRC purchased a new stake in Genesis Energy during the third quarter worth $46,000. Captrust Financial Advisors boosted its position in Genesis Energy by 90.8% during the second quarter. Captrust Financial Advisors now owns 5,034 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 2,395 shares in the last quarter. Money Concepts Capital Corp purchased a new stake in Genesis Energy during the fourth quarter worth $65,000. Finally, Victory Capital Management Inc. purchased a new stake in Genesis Energy during the third quarter worth $93,000. 70.04% of the stock is currently owned by hedge funds and other institutional investors.

About Genesis Energy

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Genesis Energy LP engages in the provision of midstream services and produces natural soda ash. It operates through the following segments: Offshore Pipeline Transportation, Sodium Minerals and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. The Offshore Pipeline Transportation segment owns interests in crude oil and natural gas pipeline transportation and handling operations through its offshore pipeline transportation segment.