Genesis Energy, L.P. (GEL) Sets New 1-Year Low at $25.22

Genesis Energy, L.P. (NYSE:GEL) reached a new 52-week low during trading on Thursday . The company traded as low as $25.22 and last traded at $25.20, with a volume of 3,477,051 shares. The stock had previously closed at $26.38.

A number of research firms have commented on GEL. BidaskClub upgraded shares of Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Barclays PLC cut shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $33.00 to $31.00 in a research note on Tuesday, July 18th. Zacks Investment Research cut shares of Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Robert W. Baird restated a “neutral” rating and set a $35.00 target price (down previously from $37.00) on shares of Genesis Energy, L.P. in a research note on Thursday, July 13th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $34.00 target price on shares of Genesis Energy, L.P. in a research note on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.18.

The company has a 50 day moving average price of $26.61 and a 200-day moving average price of $29.66. The stock has a market cap of $3.08 billion, a P/E ratio of 25.94 and a beta of 1.20.

Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. The business had revenue of $406.72 million for the quarter, compared to analyst estimates of $503.22 million. On average, equities analysts forecast that Genesis Energy, L.P. will post $1.05 earnings per share for the current year.

In other Genesis Energy, L.P. news, Director Kenneth M. Jastrow II bought 7,804 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average price of $27.25 per share, for a total transaction of $212,659.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $953,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth M. Jastrow II bought 27,196 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were acquired at an average price of $26.74 per share, for a total transaction of $727,221.04. Following the transaction, the director now directly owns 9,397 shares in the company, valued at $251,275.78. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Large investors have recently made changes to their positions in the company. Neuberger Berman Group LLC lifted its position in shares of Genesis Energy, L.P. by 1.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,111,760 shares of the pipeline company’s stock valued at $35,276,000 after buying an additional 16,712 shares in the last quarter. Cannell Peter B & Co. Inc. lifted its position in shares of Genesis Energy, L.P. by 74.5% during the 2nd 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 in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Genesis Energy, L.P. by 54.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 305,560 shares of the pipeline company’s stock valued at $9,695,000 after buying an additional 107,225 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Genesis Energy, L.P. by 3.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,277,497 shares of the pipeline company’s stock valued at $106,257,000 after buying an additional 100,158 shares in the last quarter. Finally, Girard Partners LTD. purchased a new position in shares of Genesis Energy, L.P. during the 2nd quarter valued at approximately $317,000. Hedge funds and other institutional investors own 74.50% of the company’s stock.

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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.

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