Genesis Energy, L.P. (GEL) Upgraded by Robert W. Baird 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 report published on Monday, MarketBeat reports. They currently have $37.00 price target on the pipeline company’s stock, up from their prior price target of $35.00.

Other analysts also recently issued research reports about the stock. UBS AG reaffirmed a buy rating and issued a $41.00 target price (down previously from $43.00) on shares of Genesis Energy, L.P. in a 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. Credit Suisse Group raised shares of 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 report on Monday, May 8th. Barclays PLC downgraded 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 report on Tuesday, July 18th. Finally, Zacks Investment Research raised shares of Genesis Energy, L.P. from a hold rating to a buy rating and set a $35.00 target price on the stock in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $37.55.

Genesis Energy, L.P. (NYSE GEL) traded down 0.74% on Monday, reaching $29.37. 205,470 shares of the company were exchanged. Genesis Energy, L.P. has a 52 week low of $28.16 and a 52 week high of $38.36. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 32.31 and a beta of 1.20. The stock has a 50-day moving average price of $30.47 and a 200 day moving average price of $32.41.

Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Genesis Energy, L.P. had a net margin of 6.73% and a return on equity of 5.32%. The company had revenue of $406.72 million for the quarter, compared to the consensus estimate of $503.22 million. Analysts forecast that Genesis Energy, L.P. will post $1.11 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be given a dividend of $0.723 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.89 dividend on an annualized basis and a yield of 9.77%. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. Genesis Energy, L.P.’s payout ratio is presently 294.90%.

In other news, CFO Robert V. Deere acquired 34,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average price of $30.34 per share, with a total value of $1,031,560.00. Following the completion of the transaction, the chief financial officer now directly owns 783,935 shares in the company, valued at approximately $23,784,587.90. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC raised its position 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 in the last quarter. Bank of Montreal Can raised its position in Genesis Energy, L.P. by 13.0% in the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after buying an additional 570 shares in the last quarter. Kings Point Capital Management raised its position in 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 in the last quarter. Penserra Capital Management LLC raised its position in Genesis Energy, L.P. by 188.8% in the second quarter. Penserra Capital Management LLC now owns 5,291 shares of the pipeline company’s stock worth $166,000 after buying an additional 3,459 shares in the last quarter. Finally, Lucas Capital Management raised its position in 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 in the last quarter. 73.99% of the stock is owned by institutional investors and hedge funds.

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.

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

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