Royal Bank of Canada Forecasts Strong Price Appreciation for Genesis Energy (NYSE:GEL) Stock

Genesis Energy (NYSE:GEL) had its price target upped by research analysts at Royal Bank of Canada from $14.00 to $15.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 8.19% from the stock’s current price.

Separately, Wells Fargo & Company raised Genesis Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $15.00 to $18.00 in a research report on Monday.

Genesis Energy Price Performance

GEL stock traded up $0.61 during trading on Monday, reaching $13.86. 138,765 shares of the company were exchanged, compared to its average volume of 436,113. Genesis Energy has a 52-week low of $9.86 and a 52-week high of $15.17. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The company has a market cap of $1.70 billion, a P/E ratio of -11.07 and a beta of 1.92. The stock’s 50 day moving average price is $11.46 and its 200 day moving average price is $11.87.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $725.55 million for the quarter.

Institutional Investors Weigh In On Genesis Energy

Several hedge funds have recently made changes to their positions in the business. Jefferies Financial Group Inc. grew its holdings in Genesis Energy by 1.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company’s stock valued at $15,693,000 after purchasing an additional 20,000 shares during the period. Cresset Asset Management LLC acquired a new stake in Genesis Energy during the 4th quarter valued at $1,449,000. Captrust Financial Advisors lifted its holdings in Genesis Energy by 9.1% in the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company’s stock worth $350,000 after buying an additional 2,900 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Genesis Energy in the 4th quarter valued at about $126,000. Finally, Callodine Capital Management LP grew its stake in shares of Genesis Energy by 40.0% during the fourth quarter. Callodine Capital Management LP now owns 350,000 shares of the pipeline company’s stock valued at $3,538,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors and hedge funds 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.