Zacks Investment Research upgraded shares of Genesis Energy, L.P. (NYSE:GEL) from a strong sell rating to a hold rating in a research report report published on Tuesday, May 9th.

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. “

Other research analysts also recently issued reports about the company. Vetr downgraded Genesis Energy, L.P. from a strong-buy rating to a buy rating and set a $38.00 price target on the stock. in a report on Wednesday, March 15th. Capital One Financial Corp. downgraded Genesis Energy, L.P. from an overweight rating to an equal weight rating and lowered their price target for the company from $40.00 to $39.00 in a report on Friday, February 17th. Wells Fargo & Co downgraded Genesis Energy, L.P. from an outperform rating to a market perform rating in a report on Wednesday, January 11th. Mitsubishi UFJ Financial Group Inc lowered their price target on Genesis Energy, L.P. from $38.00 to $37.00 and set a neutral rating on the stock in a report on Friday, March 24th. Finally, Mitsubishi UFJ Financial Group reissued a neutral rating and issued a $37.00 target price (down previously from $38.00) on shares of Genesis Energy, L.P. in a report on Thursday, March 23rd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Genesis Energy, L.P. currently has an average rating of Hold and an average price target of $39.50.

Genesis Energy, L.P. (NYSE:GEL) traded up 1.61% during midday trading on Tuesday, hitting $32.10. The stock had a trading volume of 358,426 shares. The firm has a 50 day moving average of $31.88 and a 200 day moving average of $33.84. Genesis Energy, L.P. has a 52 week low of $29.50 and a 52 week high of $40.90. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 35.31 and a beta of 1.24.

Genesis Energy, L.P. (NYSE:GEL) last announced its quarterly earnings results on Thursday, May 4th. The pipeline company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $415.50 million for the quarter, compared to the consensus estimate of $468.64 million. Genesis Energy, L.P. had a return on equity of 5.70% and a net margin of 6.68%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. Equities research analysts predict that Genesis Energy, L.P. will post $1.15 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 28th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, April 26th. This represents a $2.88 annualized dividend and a dividend yield of 9.12%. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.71. Genesis Energy, L.P.’s dividend payout ratio (DPR) is currently 267.93%.

Hedge funds have recently added to or reduced their stakes in the company. Enterprise Financial Services Corp boosted its stake in Genesis Energy, L.P. by 7.0% in the third quarter. Enterprise Financial Services Corp now owns 2,839 shares of the pipeline company’s stock valued at $108,000 after buying an additional 185 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in Genesis Energy, L.P. by 44.9% in the first quarter. Chicago Partners Investment Group LLC now owns 4,186 shares of the pipeline company’s stock valued at $136,000 after buying an additional 1,297 shares in the last quarter. Advisor Group Inc. boosted its stake in Genesis Energy, L.P. by 45.1% in the third quarter. Advisor Group Inc. now owns 4,670 shares of the pipeline company’s stock valued at $177,000 after buying an additional 1,451 shares in the last quarter. Kings Point Capital Management boosted its stake in Genesis Energy, L.P. by 24.3% in the first quarter. Kings Point Capital Management now owns 5,110 shares of the pipeline company’s stock valued at $166,000 after buying an additional 1,000 shares in the last quarter. Finally, Lucas Capital Management boosted its stake in Genesis Energy, L.P. by 9.4% in the first quarter. Lucas Capital Management now owns 7,000 shares of the pipeline company’s stock valued at $227,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Genesis Energy, L.P. Company Profile

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.

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