Genesis Energy (NYSE:GEL) Rating Increased to Buy at ValuEngine

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

Several other analysts have also issued reports on GEL. UBS Group raised Genesis Energy from a “neutral” rating to a “buy” rating in a report on Monday, March 16th. Wells Fargo & Co reduced their target price on Genesis Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, April 14th. Finally, Zacks Investment Research raised Genesis Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Genesis Energy presently has a consensus rating of “Hold” and an average price target of $18.00.

Shares of GEL traded down $0.41 during trading hours on Monday, hitting $8.02. 2,243,000 shares of the company were exchanged, compared to its average volume of 1,837,994. The company has a market cap of $985.54 million, a price-to-earnings ratio of 33.42 and a beta of 2.70. Genesis Energy has a fifty-two week low of $2.58 and a fifty-two week high of $23.84. The company has a quick ratio of 1.31, a current ratio of 1.53 and a debt-to-equity ratio of 2.51. The firm’s fifty day moving average is $6.10 and its 200 day moving average is $13.00.

Genesis Energy (NYSE:GEL) last released its earnings results on Wednesday, May 6th. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $539.92 million for the quarter, compared to analyst estimates of $640.07 million. Genesis Energy had a return on equity of 7.15% and a net margin of 4.37%. Genesis Energy’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) EPS. Analysts anticipate that Genesis Energy will post 0.05 EPS for the current year.

In other news, Director Conrad P. Albert bought 10,000 shares of the company’s stock in a transaction on Monday, March 30th. The stock was purchased at an average cost of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director now owns 5,100 shares of the company’s stock, valued at $15,300. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Davison bought 100,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was purchased at an average price of $3.49 per share, with a total value of $349,000.00. Following the completion of the transaction, the director now directly owns 2,605,994 shares of the company’s stock, valued at approximately $9,094,919.06. The disclosure for this purchase can be found here. Insiders purchased 156,573 shares of company stock worth $700,091 over the last ninety days. 0.72% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Arrow Investment Advisors LLC raised its position in Genesis Energy by 3.3% in the fourth quarter. Arrow Investment Advisors LLC now owns 20,320 shares of the pipeline company’s stock valued at $416,000 after purchasing an additional 657 shares during the last quarter. SNS Financial Group LLC raised its position in Genesis Energy by 9.3% in the fourth quarter. SNS Financial Group LLC now owns 11,700 shares of the pipeline company’s stock valued at $240,000 after purchasing an additional 1,000 shares during the last quarter. BerganKDV Wealth Management LLC bought a new position in Genesis Energy in the fourth quarter valued at about $35,000. UMB Bank N A MO raised its position in Genesis Energy by 12.3% in the fourth quarter. UMB Bank N A MO now owns 15,715 shares of the pipeline company’s stock valued at $322,000 after purchasing an additional 1,715 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Genesis Energy by 10.8% in the fourth quarter. Stifel Financial Corp now owns 20,355 shares of the pipeline company’s stock valued at $416,000 after purchasing an additional 1,988 shares during the last quarter. Hedge funds and other institutional investors own 67.04% of the company’s stock.

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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