Genesis Energy, L.P. (NYSE:GEL)‘s stock had its “hold” rating reiterated by equities researchers at Royal Bank Of Canada in a research note issued on Monday. They currently have a $34.00 price target on the pipeline company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 31.22% from the stock’s previous close.
Several other research analysts have also recently weighed in on the company. BidaskClub cut Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Robert W. Baird upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $35.00 to $37.00 in a research report on Monday, August 7th. Finally, Barclays PLC cut Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Genesis Energy, L.P. presently has a consensus rating of “Hold” and an average price target of $37.18.
Shares of Genesis Energy, L.P. (NYSE GEL) opened at 25.91 on Monday. The firm has a 50-day moving average of $29.76 and a 200 day moving average of $31.61. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 26.74 and a beta of 1.20. Genesis Energy, L.P. has a one year low of $25.71 and a one year high of $38.36.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05. The firm had revenue of $406.72 million for the quarter, compared to analysts’ expectations of $503.22 million. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. Equities research analysts anticipate that Genesis Energy, L.P. will post $1.07 EPS for the current year.
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In related news, CFO Robert V. Deere purchased 34,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were bought at an average price of $30.34 per share, for a total transaction of $1,031,560.00. Following the completion of the transaction, 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 accessible through the SEC website. 0.72% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. raised its stake in Genesis Energy, L.P. by 38.3% in the first quarter. OppenheimerFunds Inc. now owns 14,212,229 shares of the pipeline company’s stock valued at $460,760,000 after buying an additional 3,932,520 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in Genesis Energy, L.P. by 4.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock valued at $327,222,000 after buying an additional 431,059 shares during the period. Clearbridge Investments LLC raised its stake in Genesis Energy, L.P. by 2.7% in the first quarter. Clearbridge Investments LLC now owns 9,054,077 shares of the pipeline company’s stock valued at $293,533,000 after buying an additional 238,610 shares during the period. Chickasaw Capital Management LLC raised its stake in Genesis Energy, L.P. by 3.8% in the second quarter. Chickasaw Capital Management LLC now owns 8,250,616 shares of the pipeline company’s stock valued at $261,792,000 after buying an additional 301,090 shares during the period. Finally, Alps Advisors Inc. raised its stake in Genesis Energy, L.P. by 8.2% in the second quarter. Alps Advisors Inc. now owns 7,832,361 shares of the pipeline company’s stock valued at $248,521,000 after buying an additional 594,859 shares during the period. Institutional investors own 74.59% of the company’s stock.
About Genesis Energy, L.P.
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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