Genesis Energy (NYSE:GEL) Receives Buy Rating from Royal Bank of Canada

Genesis Energy (NYSE:GEL)‘s stock had its “buy” rating reissued by Royal Bank of Canada in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. They currently have a $27.00 target price on the pipeline company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 32.87% from the company’s previous close.

A number of other brokerages also recently weighed in on GEL. Zacks Investment Research upgraded Genesis Energy from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, July 19th. Raymond James cut Genesis Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 26th. They noted that the move was a valuation call. Finally, ValuEngine cut Genesis Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Genesis Energy has an average rating of “Hold” and a consensus target price of $27.00.

Shares of NYSE GEL traded down $0.35 during mid-day trading on Thursday, reaching $20.32. The company had a trading volume of 2,658 shares, compared to its average volume of 550,032. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.09. The stock has a market capitalization of $2.53 billion, a PE ratio of -254.00 and a beta of 1.25. The business has a 50-day moving average price of $22.38. Genesis Energy has a 1-year low of $17.55 and a 1-year high of $25.52.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Genesis Energy had a return on equity of 6.96% and a net margin of 1.15%. The business had revenue of $634.80 million for the quarter, compared to the consensus estimate of $685.95 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Genesis Energy’s revenue for the quarter was down 15.6% compared to the same quarter last year. Sell-side analysts predict that Genesis Energy will post 0.53 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its position in shares of Genesis Energy by 1.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 46,734 shares of the pipeline company’s stock worth $1,023,000 after purchasing an additional 594 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of Genesis Energy by 12.7% during the 1st quarter. Belpointe Asset Management LLC now owns 8,001 shares of the pipeline company’s stock worth $186,000 after purchasing an additional 900 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Genesis Energy by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 35,164 shares of the pipeline company’s stock worth $770,000 after purchasing an additional 1,107 shares during the last quarter. Novare Capital Management LLC lifted its position in shares of Genesis Energy by 2.0% during the 2nd quarter. Novare Capital Management LLC now owns 62,200 shares of the pipeline company’s stock worth $1,362,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Genesis Energy by 10.8% during the 1st quarter. Stephens Inc. AR now owns 20,096 shares of the pipeline company’s stock worth $468,000 after purchasing an additional 1,964 shares during the last quarter. 74.25% of the stock is owned by 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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