Genesis Energy (NYSE:GEL) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.

GEL has been the topic of several other reports. Robert W. Baird decreased their price objective on shares of Genesis Energy from $26.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, November 2nd. Barclays upped their price objective on shares of Genesis Energy from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, October 12th. Raymond James reaffirmed a “buy” rating on shares of Genesis Energy in a research note on Monday, August 13th. Royal Bank of Canada raised shares of Genesis Energy from a “sector perform” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Friday, November 2nd. Finally, UBS Group upped their price objective on shares of Genesis Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Genesis Energy currently has an average rating of “Buy” and a consensus price target of $27.60.

Shares of Genesis Energy stock opened at $22.71 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.57 and a debt-to-equity ratio of 2.06. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 21.42 and a beta of 1.16. Genesis Energy has a 1-year low of $18.42 and a 1-year high of $25.87.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, November 1st. The pipeline company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.35). The firm had revenue of $745.30 million for the quarter, compared to the consensus estimate of $736.85 million. Genesis Energy had a return on equity of 5.92% and a net margin of 1.16%. Genesis Energy’s quarterly revenue was up 53.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share. As a group, equities analysts anticipate that Genesis Energy will post -0.01 EPS for the current year.

In related news, VP Garland G. Gaspard purchased 1,247 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were acquired at an average cost of $24.07 per share, with a total value of $30,015.29. Following the completion of the purchase, the vice president now directly owns 1,247 shares of the company’s stock, valued at $30,015.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. grew its stake in shares of Genesis Energy by 3.1% during the second quarter. OppenheimerFunds Inc. now owns 16,689,722 shares of the pipeline company’s stock valued at $365,672,000 after purchasing an additional 498,828 shares during the last quarter. Chickasaw Capital Management LLC grew its stake in shares of Genesis Energy by 6.8% during the second quarter. Chickasaw Capital Management LLC now owns 13,294,227 shares of the pipeline company’s stock valued at $291,277,000 after purchasing an additional 844,823 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of Genesis Energy by 6.5% during the third quarter. Alps Advisors Inc. now owns 9,652,224 shares of the pipeline company’s stock valued at $229,530,000 after purchasing an additional 584,953 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Genesis Energy by 2.7% during the third quarter. JPMorgan Chase & Co. now owns 2,916,593 shares of the pipeline company’s stock valued at $69,356,000 after purchasing an additional 77,911 shares during the last quarter. Finally, Advisory Research Inc. grew its stake in shares of Genesis Energy by 4.9% during the third quarter. Advisory Research Inc. now owns 2,405,182 shares of the pipeline company’s stock valued at $57,195,000 after purchasing an additional 112,121 shares during the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy Company Profile

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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Analyst Recommendations for Genesis Energy (NYSE:GEL)

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