Genesis Energy, L.P. (NYSE:GEL) has been given a consensus rating of “Hold” by the fourteen analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $37.67.

Several research firms have issued reports on GEL. BidaskClub upgraded shares of Genesis Energy, L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, July 12th. Credit Suisse Group upgraded shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating in a report on Monday, May 15th. Barclays PLC lowered shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $33.00 to $31.00 in a research note on Tuesday, July 18th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $35.00 price objective (down previously from $37.00) on shares of Genesis Energy, L.P. in a research note on Thursday, July 13th.

Genesis Energy, L.P. (NYSE GEL) opened at 29.59 on Tuesday. The stock has a 50 day moving average of $30.47 and a 200 day moving average of $32.41. The firm has a market cap of $3.63 billion, a PE ratio of 32.55 and a beta of 1.20. Genesis Energy, L.P. has a 12-month low of $28.16 and a 12-month high of $38.36.

Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05. Genesis Energy, L.P. had a net margin of 6.73% and a return on equity of 5.32%. The firm had revenue of $406.72 million during the quarter, compared to analyst estimates of $503.22 million. On average, equities research analysts anticipate that Genesis Energy, L.P. will post $1.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be paid a $0.723 dividend. The ex-dividend date is Thursday, July 27th. This represents a $2.89 annualized dividend and a dividend yield of 9.77%. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. Genesis Energy, L.P.’s payout ratio is currently 294.90%.

In other Genesis Energy, L.P. news, CFO Robert V. Deere purchased 34,000 shares of Genesis Energy, L.P. stock in a transaction that occurred on Tuesday, June 13th. The stock was acquired at an average price of $30.34 per share, with a total value of $1,031,560.00. Following the transaction, the chief financial officer now owns 783,935 shares in the company, valued at approximately $23,784,587.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its stake in Genesis Energy, L.P. by 44.9% in the first quarter. Chicago Partners Investment Group LLC now owns 4,186 shares of the pipeline company’s stock valued at $136,000 after buying an additional 1,297 shares during the last quarter. Bank of Montreal Can increased its stake in Genesis Energy, L.P. by 13.0% in the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock valued at $158,000 after buying an additional 570 shares during the last quarter. Kings Point Capital Management increased its stake in Genesis Energy, L.P. by 24.3% in the first quarter. Kings Point Capital Management now owns 5,110 shares of the pipeline company’s stock valued at $166,000 after buying an additional 1,000 shares during the last quarter. Penserra Capital Management LLC increased its stake in Genesis Energy, L.P. by 188.8% in the second quarter. Penserra Capital Management LLC now owns 5,291 shares of the pipeline company’s stock valued at $166,000 after buying an additional 3,459 shares during the last quarter. Finally, Lucas Capital Management increased its stake in Genesis Energy, L.P. by 9.4% in the first quarter. Lucas Capital Management now owns 7,000 shares of the pipeline company’s stock valued at $227,000 after buying an additional 600 shares during the last quarter. 73.99% of the stock is owned by institutional investors and hedge funds.

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Genesis Energy, L.P. Company Profile

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

Analyst Recommendations for Genesis Energy, L.P. (NYSE:GEL)

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