Genesis Energy, L.P. (NYSE:GEL) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.

GEL has been the topic of a number of other research reports. Zacks Investment Research raised Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, July 12th. Credit Suisse Group raised Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating in a research report on Monday, May 15th. Barclays PLC downgraded Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $33.00 to $31.00 in a research report on Tuesday, July 18th. Robert W. Baird reissued a “neutral” rating and set a $35.00 price target (down previously from $37.00) on shares of Genesis Energy, L.P. in a research report on Thursday, July 13th. Finally, UBS AG reissued a “buy” rating and set a $41.00 price target (down previously from $43.00) on shares of Genesis Energy, L.P. in a research report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $37.55.

Shares of Genesis Energy, L.P. (NYSE GEL) traded up 0.71% on Thursday, reaching $28.43. The company’s stock had a trading volume of 150,354 shares. Genesis Energy, L.P. has a 1-year low of $27.91 and a 1-year high of $38.36. The stock has a market cap of $3.48 billion, a PE ratio of 29.34 and a beta of 1.20. The company’s 50 day moving average is $30.45 and its 200-day moving average is $32.19.

Genesis Energy, L.P. (NYSE:GEL) last announced its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. The firm had revenue of $406.72 million for the quarter, compared to the consensus estimate of $503.22 million. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. On average, equities analysts predict that Genesis Energy, L.P. will post $1.09 earnings per share for the current fiscal year.

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In related news, CFO Robert V. Deere purchased 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was acquired at an average cost of $30.34 per share, for a total transaction of $1,031,560.00. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Large investors have recently modified their holdings of the stock. OppenheimerFunds Inc. boosted its stake in shares of Genesis Energy, L.P. by 38.3% in the first quarter. OppenheimerFunds Inc. now owns 14,212,229 shares of the pipeline company’s stock valued at $460,760,000 after buying an additional 3,932,520 shares during the period. Chickasaw Capital Management LLC boosted its stake in shares of Genesis Energy, L.P. by 12.1% in the first quarter. Chickasaw Capital Management LLC now owns 7,949,526 shares of the pipeline company’s stock valued at $257,724,000 after buying an additional 857,082 shares during the period. Alps Advisors Inc. boosted its stake in shares of Genesis Energy, L.P. by 8.2% in the second quarter. Alps Advisors Inc. now owns 7,832,361 shares of the pipeline company’s stock valued at $248,521,000 after buying an additional 594,859 shares during the period. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Genesis Energy, L.P. by 4.4% in 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 buying an additional 431,059 shares during the period. Finally, Cannell Peter B & Co. Inc. boosted its stake in shares of Genesis Energy, L.P. by 74.5% in 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 buying an additional 331,225 shares during the period. Institutional investors and hedge funds own 73.99% 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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