Genesis Energy (NYSE:GEL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, January 8th. The firm presently has a $27.00 price objective on the pipeline company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.70% from the stock’s current price.
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. “
GEL has been the subject of a number of other research reports. Robert W. Baird set a $29.00 target price on Genesis Energy and gave the company a “buy” rating in a report on Friday, November 17th. Barclays reduced their target price on Genesis Energy from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Monday, November 6th. UBS Group reduced their target price on Genesis Energy from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Royal Bank of Canada restated a “hold” rating and issued a $34.00 target price on shares of Genesis Energy in a report on Wednesday, September 27th. Finally, ValuEngine upgraded Genesis Energy from a “sell” rating to a “hold” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.55.
Genesis Energy (NYSE:GEL) last released its earnings results on Friday, November 3rd. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.09. Genesis Energy had a return on equity of 5.36% and a net margin of 5.14%. research analysts expect that Genesis Energy will post 0.97 earnings per share for the current fiscal year.
In other news, VP Ryan S. Sims acquired 4,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average cost of $23.25 per share, for a total transaction of $99,975.00. Following the completion of the acquisition, the vice president now owns 4,300 shares in the company, valued at $99,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward T. Flynn acquired 4,681 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average price of $21.32 per share, with a total value of $99,798.92. Following the completion of the acquisition, the insider now owns 15,691 shares of the company’s stock, valued at approximately $334,532.12. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 257,775 shares of company stock valued at $5,659,913. 0.72% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. M&T Bank Corp increased its position in Genesis Energy by 0.7% during the second quarter. M&T Bank Corp now owns 33,435 shares of the pipeline company’s stock worth $1,060,000 after buying an additional 245 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Genesis Energy by 7.5% during 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. Oppenheimer Asset Management Inc. increased its position in Genesis Energy by 2.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,433 shares of the pipeline company’s stock worth $490,000 after buying an additional 351 shares during the last quarter. Advisor Group Inc. increased its position in Genesis Energy by 9.4% during 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. Finally, Keybank National Association OH increased its position in Genesis Energy by 9.2% during the second quarter. Keybank National Association OH now owns 12,760 shares of the pipeline company’s stock worth $405,000 after buying an additional 1,070 shares during the last quarter. 74.74% of the stock is currently owned by hedge funds and other institutional investors.
About Genesis Energy
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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