Genesis Energy (NYSE:GEL) Upgraded by Capital One Financial to Overweight Rating

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

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada raised their target price on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Genesis Energy Price Performance

GEL opened at $10.80 on Friday. 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 company’s 50-day simple moving average is $13.16 and its two-hundred day simple moving average is $13.27. Genesis Energy has a 52-week low of $10.01 and a 52-week high of $15.17. The stock has a market capitalization of $1.32 billion, a P/E ratio of -14.59 and a beta of 2.12.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The company 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 period in the previous year, the company posted $0.29 EPS.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 6.11%. The ex-dividend date is Thursday, October 31st. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s payout ratio is currently -89.19%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Chickasaw Capital Management LLC increased its holdings in Genesis Energy by 6.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock worth $61,411,000 after acquiring an additional 262,784 shares in the last quarter. Creative Planning lifted its stake in shares of Genesis Energy by 1.9% during the 3rd quarter. Creative Planning now owns 3,105,454 shares of the pipeline company’s stock valued at $41,520,000 after buying an additional 59,263 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Genesis Energy by 19.9% in the 1st 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 during the period. ELCO Management Co. LLC increased its stake in Genesis Energy by 10.7% in the 2nd 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 raised its holdings in Genesis Energy by 1.0% during the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock valued at $1,777,000 after acquiring an additional 1,286 shares during the period. Institutional investors own 66.82% of the company’s stock.

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.