Zacks Investment Research upgraded shares of Genesis Energy (NYSE:GEL) from a hold rating to a buy rating in a report released on Friday morning, Zacks.com reports. The firm currently has $26.00 price objective on the pipeline company’s stock.
According to Zacks, “Genesis Energy operates crude oil common carrier pipelines and is an independent gatherer and marketer of crude oil in North America, with operations concentrated in Texas, Louisiana, Alabama, Florida, Mississippi and New Mexico. “
A number of other analysts also recently commented on GEL. Raymond James started coverage on Planet Fitness in a report on Wednesday, June 26th. They set an outperform rating and a $80.00 price objective for the company. ValuEngine upgraded YY from a sell rating to a hold rating in a report on Friday, June 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $27.40.
GEL stock opened at $23.54 on Friday. The firm has a market cap of $2.86 billion, a P/E ratio of -294.25 and a beta of 1.26. The company has a current ratio of 1.09, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11. The business’s fifty day moving average price is $22.19. Genesis Energy has a 52 week low of $17.55 and a 52 week high of $25.52.
Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, May 2nd. The pipeline company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.19). The firm had revenue of $620.00 million for the quarter, compared to analyst estimates of $719.55 million. Genesis Energy had a return on equity of 5.10% and a net margin of 0.07%. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) earnings per share. As a group, equities analysts forecast that Genesis Energy will post 0.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, July 30th. This represents a $2.20 dividend on an annualized basis and a yield of 9.35%. Genesis Energy’s dividend payout ratio (DPR) is -2,750.00%.
In other Genesis Energy news, insider Edward T. Flynn purchased 15,700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $21.73 per share, with a total value of $341,161.00. Following the transaction, the insider now owns 43,916 shares in the company, valued at $954,294.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ryan S. Sims purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average cost of $21.00 per share, with a total value of $84,000.00. Following the completion of the transaction, the vice president now owns 8,300 shares in the company, valued at approximately $174,300. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 69,700 shares of company stock valued at $1,502,161. 0.72% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Belpointe Asset Management LLC boosted its position in Genesis Energy by 12.7% during the 1st quarter. Belpointe Asset Management LLC now owns 8,001 shares of the pipeline company’s stock worth $186,000 after purchasing an additional 900 shares during the period. Stephens Inc. AR boosted its position in Genesis Energy by 10.8% during the 1st quarter. Stephens Inc. AR now owns 20,096 shares of the pipeline company’s stock worth $468,000 after purchasing an additional 1,964 shares during the period. Zions Bancorporation N.A. purchased a new stake in Genesis Energy during the 1st quarter worth $57,000. MAI Capital Management boosted its position in Genesis Energy by 1.2% during the 1st quarter. MAI Capital Management now owns 218,543 shares of the pipeline company’s stock worth $5,092,000 after purchasing an additional 2,619 shares during the period. Finally, American Financial Group Inc. boosted its position in Genesis Energy by 25.0% during the 1st quarter. American Financial Group Inc. now owns 15,000 shares of the pipeline company’s stock worth $350,000 after purchasing an additional 3,000 shares during the period. 74.27% of the stock is owned by hedge funds and other institutional investors.
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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