Genesis Energy (GEL) Stock Rating Upgraded by ValuEngine

Genesis Energy (NYSE:GEL) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other research firms also recently weighed in on GEL. Zacks Investment Research downgraded Genesis Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, August 10th. Robert W. Baird cut Genesis Energy from an “outperform” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a research note on Tuesday, September 4th. UBS Group raised their price objective on Genesis Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, August 30th. Royal Bank of Canada raised Genesis Energy from a “sector perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Friday, November 2nd. Finally, Barclays reduced their price objective on Genesis Energy from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, November 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.60.

NYSE GEL opened at $22.97 on Thursday. Genesis Energy has a twelve month low of $18.42 and a twelve month high of $25.87. The company has a current ratio of 1.77, a quick ratio of 1.57 and a debt-to-equity ratio of 2.06. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 21.67 and a beta of 1.16.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, November 1st. The pipeline company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.35). Genesis Energy had a net margin of 1.16% and a return on equity of 5.92%. The firm had revenue of $745.30 million for the quarter, compared to analysts’ expectations of $736.85 million. During the same quarter in the previous year, the business earned $0.01 EPS. The company’s revenue for the quarter was up 53.3% on a year-over-year basis. On average, analysts predict that Genesis Energy will post -0.01 EPS for the current fiscal year.

In related news, VP Garland G. Gaspard acquired 1,247 shares of Genesis Energy stock in a transaction dated Wednesday, September 5th. The shares were purchased at an average cost of $24.07 per share, with a total value of $30,015.29. Following the completion of the purchase, the vice president now owns 1,247 shares of the company’s stock, valued at $30,015.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.72% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baldwin Brothers Inc. MA bought a new stake in shares of Genesis Energy in the second quarter worth about $193,000. GWM Advisors LLC bought a new stake in shares of Genesis Energy in the second quarter worth about $212,000. Horrell Capital Management Inc. bought a new stake in shares of Genesis Energy in the second quarter worth about $219,000. Steward Partners Investment Advisory LLC grew its stake in shares of Genesis Energy by 380.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 11,825 shares of the pipeline company’s stock worth $259,000 after purchasing an additional 9,366 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Genesis Energy by 259.9% in the second quarter. Jane Street Group LLC now owns 13,413 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 21,802 shares during the last quarter. 73.61% of the stock is currently owned by institutional investors.

About Genesis Energy

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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