Genesis Energy (GEL) Upgraded to Outperform by Royal Bank of Canada

Genesis Energy (NYSE:GEL) was upgraded by Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Friday, Marketbeat.com reports. The firm presently has a $29.00 price target on the pipeline company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 30.34% from the stock’s current price.

Several other research firms have also issued reports on GEL. Zacks Investment Research raised shares of Genesis Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Barclays upped their price target on shares of Genesis Energy from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, October 12th. UBS Group upped their price target on shares of Genesis Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Robert W. Baird lowered shares of Genesis Energy from an “outperform” rating to a “neutral” rating and set a $29.00 price target on the stock. in a research report on Tuesday, September 4th. Finally, ValuEngine raised shares of Genesis Energy from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Genesis Energy currently has a consensus rating of “Hold” and an average target price of $27.60.

Shares of GEL stock opened at $22.25 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.26 and a current ratio of 1.50. The firm has a market capitalization of $2.73 billion, a PE ratio of 20.99 and a beta of 1.16. Genesis Energy has a 12 month low of $18.42 and a 12 month high of $25.87.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, November 1st. The pipeline company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.35). Genesis Energy had a return on equity of 5.80% and a net margin of 1.16%. The firm had revenue of $745.30 million for the quarter, compared to the consensus estimate of $736.85 million. During the same period last year, the company posted $0.01 earnings per share. The business’s revenue was up 53.3% compared to the same quarter last year. Analysts anticipate that Genesis Energy will post 0.32 earnings per share for the current fiscal year.

In other news, VP Garland G. Gaspard purchased 1,247 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were purchased at an average cost of $24.07 per share, with a total value of $30,015.29. Following the completion of the transaction, the vice president now owns 1,247 shares of the company’s stock, valued at approximately $30,015.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Baldwin Brothers Inc. MA acquired a new position in shares of Genesis Energy in the second quarter valued at $193,000. GWM Advisors LLC acquired a new position in shares of Genesis Energy in the second quarter valued at $212,000. Horrell Capital Management Inc. acquired a new position in shares of Genesis Energy in the second quarter valued at $219,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Genesis Energy by 380.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 11,825 shares of the pipeline company’s stock valued at $259,000 after purchasing an additional 9,366 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Genesis Energy by 259.9% in the second quarter. Jane Street Group LLC now owns 13,413 shares of the pipeline company’s stock valued at $294,000 after purchasing an additional 21,802 shares during the last quarter. 73.24% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Company Profile

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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Analyst Recommendations for Genesis Energy (NYSE:GEL)

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