Genesis Energy, L.P. common stock (GEL) Downgraded by Robert W. Baird

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Robert W. Baird lowered shares of Genesis Energy, L.P. common stock (NYSE:GEL) from an outperform rating to a neutral rating in a research note released on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $29.00 price target on the pipeline company’s stock.

Several other research analysts have also recently issued reports on the company. Raymond James reissued a buy rating on shares of Genesis Energy, L.P. common stock in a research note on Monday, August 13th. Zacks Investment Research cut Genesis Energy, L.P. common stock from a hold rating to a strong sell rating in a research note on Friday, August 10th. Barclays increased their price target on Genesis Energy, L.P. common stock from $23.00 to $24.00 and gave the stock an equal weight rating in a research note on Wednesday, July 11th. ValuEngine raised Genesis Energy, L.P. common stock from a sell rating to a hold rating in a research note on Monday, August 20th. Finally, UBS Group raised their target price on Genesis Energy, L.P. common stock from $32.00 to $33.00 and gave the company a buy rating in a research note on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Genesis Energy, L.P. common stock has an average rating of Hold and a consensus target price of $28.50.

NYSE:GEL opened at $23.77 on Tuesday. Genesis Energy, L.P. common stock has a 1 year low of $18.42 and a 1 year high of $27.84. The firm has a market capitalization of $2.93 billion, a PE ratio of 22.42 and a beta of 1.25. The company has a quick ratio of 1.26, a current ratio of 1.50 and a debt-to-equity ratio of 2.01.

Genesis Energy, L.P. common stock (NYSE:GEL) last released its quarterly earnings results on Wednesday, August 8th. The pipeline company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.22). Genesis Energy, L.P. common stock had a return on equity of 7.32% and a net margin of 1.52%. The business had revenue of $752.39 million during the quarter, compared to the consensus estimate of $729.72 million. During the same period in the previous year, the company posted $0.28 EPS. The company’s revenue for the quarter was up 85.0% compared to the same quarter last year. sell-side analysts predict that Genesis Energy, L.P. common stock will post 0.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, July 31st were paid a dividend of $0.53 per share. The ex-dividend date was Monday, July 30th. This represents a $2.12 annualized dividend and a yield of 8.92%. This is a boost from Genesis Energy, L.P. common stock’s previous quarterly dividend of $0.52. Genesis Energy, L.P. common stock’s dividend payout ratio (DPR) is currently 200.00%.

In other news, VP Garland G. Gaspard bought 1,247 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was acquired at an average price 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 approximately $30,015.29. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GEL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Genesis Energy, L.P. common stock during the second quarter valued at about $44,868,000. Chickasaw Capital Management LLC boosted its stake in Genesis Energy, L.P. common stock 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 buying an additional 844,823 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Genesis Energy, L.P. common stock 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. Alps Advisors Inc. lifted its holdings in shares of Genesis Energy, L.P. common stock by 5.8% during the second quarter. Alps Advisors Inc. now owns 9,067,271 shares of the pipeline company’s stock valued at $198,664,000 after purchasing an additional 498,557 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of Genesis Energy, L.P. common stock during the second quarter valued at $10,398,000. 74.21% of the stock is owned by institutional investors and hedge funds.

About Genesis Energy, L.P. common stock

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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