Genesis Energy, L.P. (GEL) Receives Average Recommendation of “Buy” from Brokerages

Shares of Genesis Energy, L.P. (NYSE:GEL) have been given an average recommendation of “Buy” by the seven research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $27.75.

Several equities analysts recently commented on GEL shares. ValuEngine raised shares of Genesis Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Zacks Investment Research raised shares of Genesis Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th.

In other Genesis Energy news, Director Kenneth M. Jastrow II purchased 50,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was purchased at an average cost of $21.54 per share, for a total transaction of $1,077,000.00. Following the transaction, the director now owns 70,129 shares in the company, valued at approximately $1,510,578.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Ryan S. Sims purchased 4,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average price of $21.00 per share, with a total value of $84,000.00. Following the completion of the transaction, the vice president now owns 8,300 shares in the company, valued at approximately $174,300. The disclosure for this purchase can be found here. In the last three months, insiders purchased 69,700 shares of company stock valued at $1,502,161. 0.72% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in GEL. Alps Advisors Inc. increased its position in Genesis Energy by 12.6% in the 4th quarter. Alps Advisors Inc. now owns 10,869,013 shares of the pipeline company’s stock valued at $200,751,000 after acquiring an additional 1,216,789 shares during the period. OppenheimerFunds Inc. increased its position in Genesis Energy by 6.7% in the 1st quarter. OppenheimerFunds Inc. now owns 17,676,730 shares of the pipeline company’s stock valued at $411,868,000 after acquiring an additional 1,108,673 shares during the period. RR Advisors LLC increased its position in Genesis Energy by 25.0% in the 1st quarter. RR Advisors LLC now owns 3,290,000 shares of the pipeline company’s stock valued at $76,564,000 after acquiring an additional 657,000 shares during the period. Bank of Montreal Can increased its position in Genesis Energy by 603.4% in the 1st quarter. Bank of Montreal Can now owns 624,015 shares of the pipeline company’s stock valued at $14,539,000 after acquiring an additional 535,295 shares during the period. Finally, Harvest Fund Advisors LLC increased its position in Genesis Energy by 4.8% in the 4th quarter. Harvest Fund Advisors LLC now owns 6,239,022 shares of the pipeline company’s stock valued at $115,235,000 after acquiring an additional 285,839 shares during the period. Hedge funds and other institutional investors own 75.36% of the company’s stock.

Shares of Genesis Energy stock opened at $21.69 on Monday. Genesis Energy has a 1-year low of $17.55 and a 1-year high of $25.52. The company has a quick ratio of 0.89, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The company has a market cap of $2.66 billion, a PE ratio of -271.13 and a beta of 1.41.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, May 2nd. The pipeline company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.19). Genesis Energy had a return on equity of 5.10% and a net margin of 0.07%. The firm had revenue of $620.00 million for the quarter, compared to the consensus estimate of $719.55 million. During the same period last year, the company posted ($0.07) EPS. The business’s revenue was down 14.6% on a year-over-year basis. On average, research analysts forecast that Genesis Energy will post 0.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 10.14%. The ex-dividend date was Tuesday, April 30th. Genesis Energy’s payout ratio is -2,750.00%.

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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