Genesis Energy, L.P. (NYSE:GEL) received a $30.00 price target from research analysts at Janney Montgomery Scott in a research report issued on Friday. The brokerage presently has a “buy” rating on the pipeline company’s stock. Janney Montgomery Scott’s target price would indicate a potential upside of 19.33% from the company’s previous close.

GEL has been the topic of a number of other research reports. Zacks Investment Research lowered Genesis Energy, L.P. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $34.00 target price on shares of Genesis Energy, L.P. in a research report on Wednesday, September 27th. BidaskClub upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Barclays PLC lowered Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Tuesday, July 18th. Finally, Robert W. Baird upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $35.00 to $37.00 in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Genesis Energy, L.P. presently has a consensus rating of “Hold” and a consensus target price of $35.42.

Shares of Genesis Energy, L.P. (GEL) traded down 3.74% during trading on Friday, hitting $24.20. 525,091 shares of the stock traded hands. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 24.97 and a beta of 1.20. Genesis Energy, L.P. has a 52-week low of $24.02 and a 52-week high of $37.88. The stock has a 50 day moving average of $26.56 and a 200 day moving average of $29.63.

Genesis Energy, L.P. (NYSE:GEL) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.05. The firm had revenue of $406.72 million for the quarter, compared to analyst estimates of $503.22 million. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. Analysts expect that Genesis Energy, L.P. will post $1.05 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Genesis Energy, L.P. (GEL) Given a $30.00 Price Target by Janney Montgomery Scott Analysts” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/10/13/janney-montgomery-scott-trims-genesis-energy-l-p-gel-target-price-to-30-00.html.

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

Hedge funds have recently made changes to their positions in the company. Ffcm LLC raised its stake in shares of Genesis Energy, L.P. by 205.4% during the 2nd quarter. Ffcm LLC now owns 3,573 shares of the pipeline company’s stock worth $116,000 after buying an additional 2,403 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Genesis Energy, L.P. by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after buying an additional 271 shares during the period. Pathstone Family Office LLC acquired a new position in shares of Genesis Energy, L.P. during the 2nd quarter worth approximately $133,000. Bank of Montreal Can raised its stake in shares of Genesis Energy, L.P. by 13.0% during the 2nd quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after buying an additional 570 shares during the period. Finally, Penserra Capital Management LLC raised its stake in shares of Genesis Energy, L.P. by 188.8% during the 2nd quarter. Penserra Capital Management LLC now owns 5,291 shares of the pipeline company’s stock worth $166,000 after buying an additional 3,459 shares during the period. 74.50% of the stock is owned by institutional investors and hedge funds.

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)

Receive News & Ratings for Genesis Energy L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesis Energy L.P. and related companies with MarketBeat.com's FREE daily email newsletter.