Genesis Energy, L.P. (NYSE:GEL) has been assigned a $29.00 target price by investment analysts at Robert W. Baird in a research report issued on Friday. The brokerage currently has a “buy” rating on the pipeline company’s stock. Robert W. Baird’s target price would indicate a potential upside of 15.35% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Janney Montgomery Scott reduced their price objective on Genesis Energy, L.P. from $37.00 to $30.00 and set a “fair value” rating for the company in a research note on Friday. Royal Bank Of Canada reduced their price objective on Genesis Energy, L.P. from $34.00 to $28.00 and set a “sector perform” rating for the company in a research note on Friday. Barclays PLC upgraded Genesis Energy, L.P. from an “underweight” rating to an “equal weight” rating in a research note on Friday. BidaskClub cut Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $35.42.

Genesis Energy, L.P. (GEL) traded down 3.70% during midday trading on Friday, hitting $24.21. The company’s stock had a trading volume of 524,189 shares. Genesis Energy, L.P. has a one year low of $24.02 and a one year high of $37.88. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 24.98 and a beta of 1.20. The company’s 50-day moving average is $26.56 and its 200 day moving average is $29.63.

Genesis Energy, L.P. (NYSE:GEL) last announced its quarterly earnings data 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 return on equity of 5.32% and a net margin of 6.73%. The firm had revenue of $406.72 million during the quarter, compared to analysts’ expectations of $503.22 million. On average, analysts predict that Genesis Energy, L.P. will post $1.05 EPS for the current year.

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In related news, Director Kenneth M. Jastrow II purchased 27,196 shares of Genesis Energy, L.P. stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average cost of $26.74 per share, for a total transaction of $727,221.04. Following the completion of the transaction, the director now owns 9,397 shares in the company, valued at $251,275.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth M. Jastrow II purchased 7,804 shares of Genesis Energy, L.P. stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average price of $27.25 per share, with a total value of $212,659.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $953,750. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in GEL. Alps Advisors Inc. raised its position in Genesis Energy, L.P. by 8.2% during the second quarter. Alps Advisors Inc. now owns 7,832,361 shares of the pipeline company’s stock valued at $248,521,000 after acquiring an additional 594,859 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Genesis Energy, L.P. by 4.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock valued at $327,222,000 after acquiring an additional 431,059 shares in the last quarter. Cannell Peter B & Co. Inc. raised its position in Genesis Energy, L.P. by 74.5% during the second quarter. Cannell Peter B & Co. Inc. now owns 775,690 shares of the pipeline company’s stock valued at $24,613,000 after acquiring an additional 331,225 shares in the last quarter. Chickasaw Capital Management LLC raised its position in Genesis Energy, L.P. by 3.8% during the second quarter. Chickasaw Capital Management LLC now owns 8,250,616 shares of the pipeline company’s stock valued at $261,792,000 after acquiring an additional 301,090 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in Genesis Energy, L.P. by 2.7% during the first quarter. Clearbridge Investments LLC now owns 9,054,077 shares of the pipeline company’s stock valued at $293,533,000 after acquiring an additional 238,610 shares in the last quarter. Institutional investors own 74.50% of the company’s stock.

About Genesis Energy, L.P.

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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