Wells Fargo & Company Upgrades Genesis Energy (NYSE:GEL) to Overweight

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

Genesis Energy Trading Up 1.7 %

Shares of GEL stock opened at $13.24 on Monday. Genesis Energy has a 1-year low of $9.86 and a 1-year high of $15.17. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -10.67 and a beta of 1.92. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $11.87.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share 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 for the quarter.

Institutional Investors Weigh In On Genesis Energy

A number of large investors have recently modified their holdings of GEL. Jefferies Financial Group Inc. boosted its position in Genesis Energy by 1.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company’s stock worth $15,693,000 after acquiring an additional 20,000 shares during the last quarter. Cresset Asset Management LLC acquired a new position in shares of Genesis Energy during the 4th quarter worth approximately $1,449,000. Captrust Financial Advisors grew its position in shares of Genesis Energy by 9.1% in the fourth quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company’s stock valued at $350,000 after purchasing an additional 2,900 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Genesis Energy in the fourth quarter valued at approximately $126,000. Finally, Callodine Capital Management LP boosted its stake in Genesis Energy by 40.0% during the fourth quarter. Callodine Capital Management LP now owns 350,000 shares of the pipeline company’s stock worth $3,538,000 after buying an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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.