Genesis Energy (NYSE:GEL) Given a $29.00 Price Target at Robert W. Baird

Robert W. Baird set a $29.00 price target on Genesis Energy (NYSE:GEL) in a research note released on Friday, November 17th. The brokerage currently has a buy rating on the pipeline company’s stock.

GEL has been the topic of several other reports. Zacks Investment Research upgraded shares of Genesis Energy from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Thursday, November 9th. Barclays cut their target price on shares of Genesis Energy from $27.00 to $26.00 and set an equal weight rating on the stock in a report on Monday, November 6th. UBS dropped their price target on Genesis Energy from $41.00 to $39.00 and set a buy rating for the company in a research note on Tuesday, October 17th. Royal Bank Of Canada reissued a hold rating and set a $34.00 price objective on shares of Genesis Energy in a research report on Wednesday, September 27th. Finally, Janney Montgomery Scott set a $30.00 price objective on Genesis Energy and gave the company a buy rating in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $33.45.

Shares of Genesis Energy (NYSE GEL) traded down $0.61 during trading on Friday, hitting $21.72. 629,552 shares of the stock were exchanged, compared to its average volume of 541,189. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.35 and a current ratio of 1.62. The stock has a market capitalization of $2,749.78, a P/E ratio of 24.39 and a beta of 1.15. Genesis Energy has a 52-week low of $20.43 and a 52-week high of $37.88.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.50 per share. The ex-dividend date was Monday, October 30th. This represents a $2.00 annualized dividend and a dividend yield of 9.21%. Genesis Energy’s dividend payout ratio (DPR) is 281.69%.

In other Genesis Energy news, insider Edward T. Flynn acquired 4,681 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were bought at an average price of $21.32 per share, with a total value of $99,798.92. Following the transaction, the insider now directly owns 15,691 shares of the company’s stock, valued at approximately $334,532.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ryan S. Sims acquired 4,300 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was acquired at an average cost of $23.25 per share, for a total transaction of $99,975.00. Following the transaction, the vice president now directly owns 4,300 shares in the company, valued at $99,975. The disclosure for this purchase can be found here. Insiders have bought a total of 250,579 shares of company stock worth $5,537,772 over the last ninety days. Insiders own 0.72% of the company’s stock.

Several hedge funds have recently modified their holdings of GEL. Cutter & CO Brokerage Inc. lifted its stake in shares of Genesis Energy by 1.5% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 9,643 shares of the pipeline company’s stock worth $306,000 after purchasing an additional 146 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in Genesis Energy by 1.9% during the 2nd quarter. Hodges Capital Management Inc. now owns 10,500 shares of the pipeline company’s stock worth $333,000 after buying an additional 200 shares during the last quarter. M&T Bank Corp lifted its holdings in Genesis Energy by 0.7% during the 2nd quarter. M&T Bank Corp now owns 33,435 shares of the pipeline company’s stock worth $1,060,000 after buying an additional 245 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Genesis Energy by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after buying an additional 271 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Genesis Energy by 2.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,433 shares of the pipeline company’s stock worth $490,000 after buying an additional 351 shares during the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.

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Genesis Energy 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.

Analyst Recommendations for Genesis Energy (NYSE:GEL)

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