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Genesis Energy, L.P. (NYSE:GEL) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday. They currently have a $53.10 price objective on the stock. Zacks‘s price objective suggests a potential downside of 3.63% from the stock’s previous close.

Shares of Genesis Energy, L.P. (NYSE:GEL) traded down 1.40% during mid-day trading on Monday, hitting $54.33. 145,475 shares of the company’s stock traded hands. Genesis Energy, L.P. has a 1-year low of $45.81 and a 1-year high of $57.47. The stock’s 50-day moving average is $55.4 and its 200-day moving average is $54.46. The company has a market cap of $4.819 billion and a P/E ratio of 50.83.

Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company posted $0.28 earnings per share. Genesis Energy, L.P.’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that Genesis Energy, L.P. will post $1.50 earnings per share for the current fiscal year.

GEL has been the subject of a number of other recent research reports. Analysts at Raymond James reiterated an “outperform” rating on shares of Genesis Energy, L.P. in a research note on Monday, May 5th. They now have a $61.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Genesis Energy, L.P. from $55.00 to $57.00 in a research note on Tuesday, May 6th. They now have an “equal weight” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Genesis Energy, L.P. from $55.00 to $56.00 in a research note on Monday, May 5th. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $56.87.

Genesis Energy, L.P. (NYSE:GEL) is a limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States, primarily Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida and in the Gulf of Mexico.

To view Zacks’ full report, visit Zacks’ official website.

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