Robert W. Baird Upgrades Genesis Energy, L.P. (NYSE:GEL) to “Outperform”

Robert W. Baird upgraded shares of Genesis Energy, L.P. (NYSE:GEL) from a neutral rating to an outperform rating in a research report released on Monday, August 7th, MarketBeat Ratings reports. The firm currently has $37.00 target price on the pipeline company’s stock, up from their prior target price of $35.00.

A number of other research analysts have also weighed in on GEL. UBS AG reissued a buy rating and set a $41.00 target price (down previously from $43.00) on shares of Genesis Energy, L.P. in a research report on Friday, May 5th. BidaskClub downgraded shares of Genesis Energy, L.P. from a hold rating to a sell rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Genesis Energy, L.P. from a hold rating to a strong sell rating in a report on Tuesday, August 1st. Barclays PLC cut shares of Genesis Energy, L.P. from an equal weight rating to an underweight rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Tuesday, July 18th. Finally, Credit Suisse Group raised shares of Genesis Energy, L.P. from a neutral rating to an outperform rating in a research note on Monday, May 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $37.55.

Shares of Genesis Energy, L.P. (GEL) traded up 0.46% during midday trading on Monday, hitting $26.43. The company had a trading volume of 432,997 shares. The company has a 50-day moving average of $29.93 and a 200 day moving average of $31.75. The firm has a market capitalization of $3.24 billion, a PE ratio of 27.28 and a beta of 1.20. Genesis Energy, L.P. has a 12 month low of $25.87 and a 12 month high of $38.36.

Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. The business had revenue of $406.72 million during the quarter, compared to analyst estimates of $503.22 million. Genesis Energy, L.P. had a net margin of 6.73% and a return on equity of 5.32%. On average, analysts expect that Genesis Energy, L.P. will post $1.07 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was posted by Rincon Hill News and is the property of of Rincon Hill News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://rinconhillneighbors.org/2017/08/19/genesis-energy-l-p-nysegel-upgraded-at-robert-w-baird-updated.html.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were issued a $0.723 dividend. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. This represents a $2.89 annualized dividend and a yield of 10.94%. The ex-dividend date was Thursday, July 27th. Genesis Energy, L.P.’s dividend payout ratio is currently 294.90%.

In other Genesis Energy, L.P. news, CFO Robert V. Deere acquired 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average cost of $30.34 per share, for a total transaction of $1,031,560.00. Following the completion of the acquisition, the chief financial officer now directly owns 783,935 shares of the company’s stock, valued at approximately $23,784,587.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. OppenheimerFunds Inc. raised its position in shares of 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 in the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Genesis Energy, L.P. by 12.1% in the first quarter. Chickasaw Capital Management LLC now owns 7,949,526 shares of the pipeline company’s stock valued at $257,724,000 after buying an additional 857,082 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of 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 last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of 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 last quarter. Finally, Cannell Peter B & Co. Inc. increased its stake in shares of Genesis Energy, L.P. by 74.5% in the second quarter. Cannell Peter B & Co. Inc. now owns 775,690 shares of the pipeline company’s stock valued at $24,613,000 after buying an additional 331,225 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Genesis Energy, L.P. (NYSE:GEL)

Receive News & Ratings for Genesis Energy L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesis Energy L.P. and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.