Genesis Energy, L.P. (NYSE:GEL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

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. “

GEL has been the subject of several other research reports. 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. BidaskClub upgraded shares of Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Barclays PLC lowered shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research note on Tuesday, July 18th. Robert W. Baird upgraded shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $35.00 to $37.00 in a research note on Monday. Finally, UBS AG reiterated a “buy” rating and set a $41.00 price objective (down previously from $43.00) on shares of Genesis Energy, L.P. in a research note on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.55.

Shares of Genesis Energy, L.P. (NYSE:GEL) traded down 3.92% during trading on Tuesday, hitting $28.43. 740,447 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $30.49 and a 200-day moving average price of $32.36. Genesis Energy, L.P. has a one year low of $28.16 and a one year high of $38.36. The stock has a market cap of $3.48 billion, a P/E ratio of 31.28 and a beta of 1.20.

Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 EPS for the quarter, beating 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 business had revenue of $406.72 million during the quarter, compared to analyst estimates of $503.22 million. Equities research analysts expect that Genesis Energy, L.P. will post $1.11 EPS for the current fiscal year.

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In related news, CFO Robert V. Deere bought 34,000 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were bought 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 $23,784,587.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. 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 in 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 in 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 in 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 in 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 in the last quarter. 73.99% of the stock is currently owned by institutional investors.

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.

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

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