Genesis Energy (GEL) Raised to Outperform at Royal Bank of Canada

Genesis Energy (NYSE:GEL) was upgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other research firms have also recently issued reports on GEL. Zacks Investment Research cut Genesis Energy from a “hold” rating to a “strong sell” rating in a report on Friday, August 10th. Robert W. Baird cut Genesis Energy from an “outperform” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a report on Tuesday, September 4th. UBS Group lifted their price objective on Genesis Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Raymond James reiterated a “buy” rating on shares of Genesis Energy in a report on Monday, August 13th. Finally, Barclays lifted their price objective on Genesis Energy from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, October 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $28.50.

GEL stock opened at $22.09 on Friday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.26 and a current ratio of 1.50. Genesis Energy has a 12-month low of $18.42 and a 12-month high of $25.87. The stock has a market capitalization of $2.64 billion, a P/E ratio of 20.84 and a beta of 1.24.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, November 1st. The pipeline company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.35). Genesis Energy had a return on equity of 7.32% and a net margin of 1.52%. The firm had revenue of $745.30 million during the quarter, compared to analyst estimates of $736.85 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was up 53.3% on a year-over-year basis. As a group, analysts expect that Genesis Energy will post 0.32 earnings per share for the current year.

In other Genesis Energy news, VP Garland G. Gaspard bought 1,247 shares of the firm’s stock in a transaction on 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 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 legal filing with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baldwin Brothers Inc. MA purchased a new position in Genesis Energy in the 2nd quarter worth approximately $193,000. GWM Advisors LLC purchased a new position in Genesis Energy in the 2nd quarter worth approximately $212,000. Horrell Capital Management Inc. purchased a new position in Genesis Energy in the 2nd quarter worth approximately $219,000. Steward Partners Investment Advisory LLC lifted its stake in Genesis Energy by 380.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 11,825 shares of the pipeline company’s stock worth $259,000 after purchasing an additional 9,366 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in Genesis Energy by 259.9% in the 2nd quarter. Jane Street Group LLC now owns 13,413 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 21,802 shares in the last quarter. 73.24% 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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