Shares of Genesis Energy, L.P. (NYSE:GEL) have received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $37.22.

A number of equities research analysts have issued reports on GEL shares. Zacks Investment Research lowered shares of Genesis Energy, L.P. from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. BidaskClub raised shares of Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $34.00 price objective on shares of Genesis Energy, L.P. in a report on Wednesday. Barclays PLC lowered shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $33.00 to $31.00 in a report on Tuesday, July 18th. Finally, Robert W. Baird raised shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $35.00 to $37.00 in a report on Monday, August 7th.

COPYRIGHT VIOLATION NOTICE: “Genesis Energy, L.P. (GEL) Receives $37.22 Consensus Price Target from Brokerages” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/09/30/genesis-energy-l-p-gel-receives-37-22-consensus-price-target-from-brokerages.html.

Genesis Energy, L.P. (NYSE GEL) traded up 0.69% on Wednesday, hitting $26.35. 1,374,894 shares of the company were exchanged. The company has a 50 day moving average price of $27.39 and a 200-day moving average price of $30.42. Genesis Energy, L.P. has a 52 week low of $25.65 and a 52 week high of $38.36. The stock has a market capitalization of $3.23 billion, a P/E ratio of 27.19 and a beta of 1.22.

Genesis Energy, L.P. (NYSE:GEL) last announced its quarterly earnings data 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. Genesis Energy, L.P. had a net margin of 6.73% and a return on equity of 5.32%. The business had revenue of $406.72 million during the quarter, compared to analyst estimates of $503.22 million. On average, equities analysts expect that Genesis Energy, L.P. will post $1.06 earnings per share for the current fiscal year.

In other Genesis Energy, L.P. news, Director Kenneth M. Jastrow II bought 27,196 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of $26.74 per share, with a total value of $727,221.04. Following the completion of the acquisition, the director now owns 9,397 shares in the company, valued at approximately $251,275.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth M. Jastrow II bought 7,804 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average cost of $27.25 per share, with a total value of $212,659.00. Following the completion of the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $953,750. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its position in Genesis Energy, L.P. by 3.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 259,963 shares of the pipeline company’s stock worth $8,249,000 after buying an additional 7,572 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Genesis Energy, L.P. by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after buying an additional 271 shares during the last quarter. CNH Partners LLC lifted its position in Genesis Energy, L.P. by 44.9% in the second quarter. CNH Partners LLC now owns 18,725 shares of the pipeline company’s stock worth $594,000 after buying an additional 5,800 shares during the last quarter. Green Square Capital LLC bought a new stake in Genesis Energy, L.P. in the second quarter worth $260,000. Finally, Advisor Group Inc. lifted its position in Genesis Energy, L.P. by 9.4% in the second quarter. Advisor Group Inc. now owns 5,453 shares of the pipeline company’s stock worth $173,000 after buying an additional 470 shares during the last quarter. Institutional investors own 74.49% 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.

Analyst Recommendations for Genesis Energy, L.P. (NYSE:GEL)

Receive News & Stock Ratings for Genesis Energy L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesis Energy L.P. and related stocks with our FREE daily email newsletter.