Genesis Energy, L.P. (GEL) Price Target Cut to $39.00

Genesis Energy, L.P. (NYSE:GEL) had its price target lowered by investment analysts at UBS AG from $41.00 to $39.00 in a research note issued on Tuesday, October 17th, 99wallstreet.com reports. The firm currently has a “buy” rating on the pipeline company’s stock. UBS AG’s price target suggests a potential upside of 62.50% from the company’s current price.

A number of other research firms have also issued reports on GEL. Royal Bank Of Canada restated a “hold” rating and issued a $34.00 price target on shares of Genesis Energy, L.P. in a research report on Monday, August 21st. Zacks Investment Research upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Robert W. Baird upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $35.00 to $37.00 in a research report on Monday, August 7th. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Genesis Energy, L.P. presently has an average rating of “Hold” and a consensus price target of $34.92.

Shares of Genesis Energy, L.P. (GEL) traded up 2.21% during mid-day trading on Tuesday, reaching $24.00. The company’s stock had a trading volume of 569,456 shares. The company has a 50-day moving average price of $25.88 and a 200 day moving average price of $29.06. Genesis Energy, L.P. has a 52-week low of $22.72 and a 52-week high of $37.88. The company has a market cap of $2.94 billion, a PE ratio of 24.77 and a beta of 1.20.

Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. The business had revenue of $406.72 million during 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%. Equities analysts expect that Genesis Energy, L.P. will post $0.99 earnings per share for the current year.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its stake in shares of Genesis Energy, L.P. by 1.5% in the second quarter. Neuberger Berman Group LLC now owns 1,111,760 shares of the pipeline company’s stock valued at $35,276,000 after acquiring an additional 16,712 shares in the last quarter. Cannell Peter B & Co. Inc. raised 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 acquiring an additional 331,225 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Genesis Energy, L.P. by 54.1% in the second quarter. Evergreen Capital Management LLC now owns 305,560 shares of the pipeline company’s stock valued at $9,695,000 after acquiring an additional 107,225 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Genesis Energy, L.P. by 3.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,277,497 shares of the pipeline company’s stock valued at $106,257,000 after acquiring an additional 100,158 shares in the last quarter. Finally, Girard Partners LTD. acquired a new stake in shares of Genesis Energy, L.P. in the second quarter valued at $317,000. Institutional investors and hedge funds own 74.86% 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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