Genesis Energy, L.P. (GEL) Receives $39.20 Average PT from Analysts

Shares of Genesis Energy, L.P. (NYSE:GEL) have been given an average rating of “Hold” by the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $38.67.

GEL has been the subject of a number of analyst reports. Vetr cut Genesis Energy, L.P. from a “strong-buy” rating to a “buy” rating and set a $38.00 price objective for the company. in a research note on Wednesday, March 15th. Zacks Investment Research upgraded Genesis Energy, L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 9th. Mitsubishi UFJ Financial Group Inc cut their price target on Genesis Energy, L.P. from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, March 24th. Mitsubishi UFJ Financial Group restated a “neutral” rating and issued a $37.00 price target (down from $38.00) on shares of Genesis Energy, L.P. in a report on Thursday, March 23rd. Finally, Credit Suisse Group raised Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $40.00 to $39.00 in a research report on Monday, May 8th.

In other news, CFO Robert V. Deere purchased 34,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was bought at an average cost of $30.34 per share, for a total transaction of $1,031,560.00. Following the purchase, the chief financial officer now owns 783,935 shares of the company’s stock, valued at $23,784,587.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its stake in Genesis Energy, L.P. by 44.9% in the first quarter. Chicago Partners Investment Group LLC now owns 4,186 shares of the pipeline company’s stock worth $136,000 after buying an additional 1,297 shares during the last quarter. Kings Point Capital Management increased its stake in shares of Genesis Energy, L.P. by 24.3% in the first quarter. Kings Point Capital Management now owns 5,110 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,000 shares during the last quarter. Lucas Capital Management increased its stake in shares of Genesis Energy, L.P. by 9.4% in the first quarter. Lucas Capital Management now owns 7,000 shares of the pipeline company’s stock worth $227,000 after buying an additional 600 shares during the last quarter. Usca Ria LLC increased its stake in shares of Genesis Energy, L.P. by 0.3% in the third quarter. Usca Ria LLC now owns 8,335 shares of the pipeline company’s stock worth $316,000 after buying an additional 25 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Genesis Energy, L.P. by 383.9% in the first quarter. Proficio Capital Partners LLC now owns 8,473 shares of the pipeline company’s stock worth $270,000 after buying an additional 6,722 shares during the last quarter. Institutional investors and hedge funds own 74.24% of the company’s stock.

Shares of Genesis Energy, L.P. (GEL) traded up 2.69% during midday trading on Tuesday, hitting $29.75. The company had a trading volume of 824,624 shares. Genesis Energy, L.P. has a 12 month low of $28.75 and a 12 month high of $40.90. The stock’s 50-day moving average price is $31.01 and its 200-day moving average price is $33.40. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 32.73 and a beta of 1.19.

Genesis Energy, L.P. (NYSE:GEL) last released its earnings results on Thursday, May 4th. The pipeline company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Genesis Energy, L.P. had a return on equity of 4.98% and a net margin of 6.00%. The company had revenue of $415.50 million during the quarter, compared to analysts’ expectations of $468.64 million. During the same period last year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that Genesis Energy, L.P. will post $1.13 EPS for the current year.

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Genesis Energy, L.P. Company Profile

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

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