Genesis Energy, L.P. (GEL) Receives $27.75 Average Target Price from Analysts

Genesis Energy, L.P. (NYSE:GEL) has been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $27.75.

A number of equities research analysts recently issued reports on GEL shares. Zacks Investment Research raised shares of Genesis Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 27th. ValuEngine lowered shares of Genesis Energy from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th.

Shares of Genesis Energy stock traded up $0.04 during trading hours on Friday, reaching $23.40. 1,904 shares of the company’s stock were exchanged, compared to its average volume of 509,067. Genesis Energy has a 1 year low of $17.55 and a 1 year high of $25.52. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -292.50 and a beta of 1.45. The company has a quick ratio of 1.11, a current ratio of 1.33 and a debt-to-equity ratio of 2.04.

Genesis Energy (NYSE:GEL) last released its earnings results on Wednesday, February 20th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.06. Genesis Energy had a negative net margin of 0.21% and a positive return on equity of 5.16%. The business had revenue of $689.30 million during the quarter, compared to analyst estimates of $737.40 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts anticipate that Genesis Energy will post 0.76 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in GEL. Alps Advisors Inc. grew its holdings in shares of Genesis Energy by 12.6% in the fourth quarter. Alps Advisors Inc. now owns 10,869,013 shares of the pipeline company’s stock valued at $200,751,000 after purchasing an additional 1,216,789 shares during the period. Virtus ETF Advisers LLC purchased a new position in Genesis Energy during the third quarter worth about $16,591,000. RR Advisors LLC boosted its stake in Genesis Energy by 17.7% during the fourth quarter. RR Advisors LLC now owns 2,633,000 shares of the pipeline company’s stock worth $48,547,000 after buying an additional 396,000 shares during the period. Wells Fargo & Company MN boosted its stake in Genesis Energy by 83.2% during the third quarter. Wells Fargo & Company MN now owns 725,784 shares of the pipeline company’s stock worth $17,260,000 after buying an additional 329,631 shares during the period. Finally, Harvest Fund Advisors LLC boosted its stake in Genesis Energy by 4.8% during the fourth quarter. Harvest Fund Advisors LLC now owns 6,239,022 shares of the pipeline company’s stock worth $115,235,000 after buying an additional 285,839 shares during the period. 75.57% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Genesis Energy (NYSE:GEL)

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