Genesis Energy (NYSE:GEL) Price Target Raised to $15.00 at Wells Fargo & Company

Genesis Energy (NYSE:GEL) had its price target hoisted by research analysts at Wells Fargo & Company from $12.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 16.14% from the company’s previous close.

Genesis Energy Stock Down 1.2 %

Shares of GEL traded down $0.16 during midday trading on Wednesday, hitting $12.92. The company had a trading volume of 538,486 shares, compared to its average volume of 687,012. The company’s 50-day simple moving average is $11.00 and its 200-day simple moving average is $11.89. Genesis Energy has a 1 year low of $9.86 and a 1 year 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 firm has a market capitalization of $1.58 billion, a P/E ratio of -10.42 and a beta of 1.92.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Genesis Energy by 9.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock valued at $47,169,000 after purchasing an additional 418,555 shares during the last quarter. Tejara Capital Ltd acquired a new position in shares of Genesis Energy in the fourth quarter worth $3,205,000. Rangeley Capital LLC purchased a new stake in shares of Genesis Energy in the fourth quarter valued at $2,133,000. Summit Financial LLC purchased a new stake in Genesis Energy during the 4th quarter worth about $2,128,000. Finally, CIBC Private Wealth Group LLC raised its stake in Genesis Energy by 5,667.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 190,342 shares of the pipeline company’s stock valued at $1,972,000 after purchasing an additional 187,042 shares during 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.