UBS AG Trims Genesis Energy, L.P. (GEL) Target Price to $39.00

Genesis Energy, L.P. (NYSE:GEL) had its target price dropped by analysts at UBS AG from $41.00 to $39.00 in a research report issued to clients and investors on Tuesday, October 17th, 99wallstreet.com reports. The firm presently has a “buy” rating on the pipeline company’s stock. UBS AG’s price target suggests a potential upside of 67.10% from the stock’s previous close.

GEL has been the topic of several other reports. Zacks Investment Research cut shares of Genesis Energy, L.P. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reissued a “hold” rating and set a $34.00 price target on shares of Genesis Energy, L.P. in a research report on Wednesday, September 27th. BidaskClub raised shares of Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Barclays PLC cut shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $33.00 to $31.00 in a research 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 boosted their price target for the stock from $35.00 to $37.00 in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Genesis Energy, L.P. has a consensus rating of “Hold” and a consensus target price of $34.83.

Genesis Energy, L.P. (GEL) traded down $0.12 on Tuesday, reaching $23.34. 679,360 shares of the company’s stock traded hands, compared to its average volume of 744,285. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 1.38. Genesis Energy, L.P. has a 1 year low of $22.71 and a 1 year high of $37.88. The firm has a market capitalization of $2,860.00, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 3.16 and a beta of 1.18.

TRADEMARK VIOLATION WARNING: This piece of content was reported by BBNS and is the property of of BBNS. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://baseballnewssource.com/markets/genesis-energy-l-p-gel-price-target-lowered-to-39-00-at-ubs-ag/1721843.html.

In related news, Director Kenneth M. Jastrow II purchased 7,804 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average price of $27.25 per share, for a total transaction of $212,659.00. Following the purchase, the director now owns 35,000 shares in the company, valued at $953,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth M. Jastrow II purchased 27,196 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average price of $26.74 per share, for a total transaction of $727,221.04. Following the purchase, the director now owns 9,397 shares in the company, valued at approximately $251,275.78. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in GEL. Alps Advisors Inc. grew its position in shares of Genesis Energy, L.P. by 11.3% during the 3rd quarter. Alps Advisors Inc. now owns 8,713,795 shares of the pipeline company’s stock worth $229,608,000 after purchasing an additional 881,434 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of Genesis Energy, L.P. by 4.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock worth $327,222,000 after purchasing an additional 431,059 shares in the last quarter. Cannell Peter B & Co. Inc. grew its position in shares of Genesis Energy, L.P. by 74.5% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 775,690 shares of the pipeline company’s stock worth $24,613,000 after purchasing an additional 331,225 shares in the last quarter. Chickasaw Capital Management LLC grew its position in shares of Genesis Energy, L.P. by 3.8% during the 2nd quarter. Chickasaw Capital Management LLC now owns 8,250,616 shares of the pipeline company’s stock worth $261,792,000 after purchasing an additional 301,090 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Genesis Energy, L.P. by 2.7% during the 1st quarter. Clearbridge Investments LLC now owns 9,054,077 shares of the pipeline company’s stock worth $293,533,000 after purchasing an additional 238,610 shares in the last quarter. Hedge funds and other institutional investors own 74.17% 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 & 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 companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.