Genesis Energy (NYSE:GEL) Upgraded by Wells Fargo & Company to “Overweight” Rating

Genesis Energy (NYSE:GEL) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage currently has a $18.00 price objective on the pipeline company’s stock, up from their previous price objective of $15.00. Wells Fargo & Company‘s price target suggests a potential upside of 36.00% from the company’s current price.

Genesis Energy Stock Performance

GEL opened at $13.24 on Monday. The company has a market cap of $1.62 billion, a P/E ratio of -10.67 and a beta of 1.92. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The firm’s 50-day moving average price is $11.46 and its 200-day moving average price is $11.87. Genesis Energy has a 52-week low of $9.86 and a 52-week high of $15.17.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The company had revenue of $725.55 million during the quarter.

Institutional Trading of Genesis Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Millburn Ridgefield Corp purchased a new position in shares of Genesis Energy during the 3rd quarter valued at about $59,000. F M Investments LLC acquired a new stake in Genesis Energy during the fourth quarter worth about $122,000. Ameriprise Financial Inc. purchased a new position in Genesis Energy during the fourth quarter valued at approximately $126,000. Stifel Financial Corp boosted its position in Genesis Energy by 10.8% in the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 1,819 shares in the last quarter. Finally, Mutual Advisors LLC boosted its position in Genesis Energy by 101.8% in the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock worth $341,000 after purchasing an additional 16,099 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

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.