Genesis Energy (GEL) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Genesis Energy (NYSE:GEL) from a sell rating to a hold rating in a research report released on Wednesday, reports.

According to Zacks, “Genesis Energy operates crude oil common carrier pipelines and is an independent gatherer and marketer of crude oil in North America, with operations concentrated in Texas, Louisiana, Alabama, Florida, Mississippi and New Mexico. “

Shares of Genesis Energy stock opened at $21.87 on Wednesday. The firm has a market capitalization of $2.68 billion, a PE ratio of -273.38 and a beta of 1.41. Genesis Energy has a 12 month low of $17.55 and a 12 month high of $25.52. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.11 and a current ratio of 1.09.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 2nd. The pipeline company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.19). The business had revenue of $620.00 million during the quarter, compared to analyst estimates of $719.55 million. Genesis Energy had a net margin of 0.07% and a return on equity of 5.10%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.07) earnings per share. As a group, equities research analysts expect that Genesis Energy will post 0.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.06%. Genesis Energy’s payout ratio is -2,750.00%.

In other Genesis Energy news, insider Edward T. Flynn bought 15,700 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $21.73 per share, with a total value of $341,161.00. Following the acquisition, the insider now directly owns 43,916 shares of the company’s stock, valued at approximately $954,294.68. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Ryan S. Sims bought 4,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of $21.00 per share, for a total transaction of $84,000.00. Following the completion of the acquisition, the vice president now directly owns 8,300 shares in the company, valued at $174,300. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Abacus Planning Group Inc. acquired a new position in shares of Genesis Energy in the 4th quarter valued at $1,394,000. Zions Bancorporation N.A. purchased a new position in Genesis Energy in the 1st quarter valued at $57,000. Arlington Partners LLC grew its position in Genesis Energy by 304.8% in the 1st quarter. Arlington Partners LLC now owns 8,500 shares of the pipeline company’s stock valued at $198,000 after buying an additional 6,400 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Genesis Energy in the 1st quarter valued at $208,000. Finally, Paragon Capital Management Ltd purchased a new position in Genesis Energy in the 1st quarter valued at $210,000. 75.87% of the stock is currently owned by institutional investors and hedge funds.

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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