Genesis Energy, L.P. (NYSE:GEL) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $27.75.
A number of research firms recently commented on GEL. ValuEngine upgraded Genesis Energy from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Zacks Investment Research upgraded Genesis Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th.
In related news, Director Kenneth M. Jastrow II acquired 50,000 shares of Genesis Energy stock in a transaction on Friday, May 10th. The shares were bought at an average cost of $21.54 per share, with a total value of $1,077,000.00. Following the completion of the purchase, the director now directly owns 70,129 shares of the company’s stock, valued at approximately $1,510,578.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ryan S. Sims acquired 4,000 shares of Genesis Energy stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of $21.00 per share, for a total transaction of $84,000.00. Following the completion of the purchase, the vice president now directly owns 8,300 shares of the company’s stock, valued at $174,300. The disclosure for this purchase can be found here. Insiders have acquired 69,700 shares of company stock worth $1,502,161 over the last three months. 0.72% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Abacus Planning Group Inc. bought a new stake in Genesis Energy during the fourth quarter worth approximately $1,394,000. Moneta Group Investment Advisors LLC bought a new stake in Genesis Energy during the first quarter worth approximately $39,000. Zions Bancorporation N.A. bought a new stake in Genesis Energy during the first quarter worth approximately $57,000. Belpointe Asset Management LLC increased its stake in Genesis Energy by 12.7% during the first quarter. Belpointe Asset Management LLC now owns 8,001 shares of the pipeline company’s stock worth $186,000 after acquiring an additional 900 shares during the last quarter. Finally, Arlington Partners LLC increased its stake in Genesis Energy by 304.8% during the first quarter. Arlington Partners LLC now owns 8,500 shares of the pipeline company’s stock worth $198,000 after acquiring an additional 6,400 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.
Shares of Genesis Energy stock opened at $22.17 on Friday. Genesis Energy has a 52 week low of $17.55 and a 52 week high of $25.52. The stock has a market capitalization of $2.68 billion, a PE ratio of -277.13 and a beta of 1.31. The company has a current ratio of 1.09, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11.
Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, May 2nd. The pipeline company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.19). Genesis Energy had a net margin of 0.07% and a return on equity of 5.10%. The business had revenue of $620.00 million during the quarter, compared to analysts’ expectations of $719.55 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. Genesis Energy’s revenue was down 14.6% on a year-over-year basis. On average, equities research analysts anticipate that Genesis Energy will post 0.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $2.20 annualized dividend and a yield of 9.92%. Genesis Energy’s payout ratio is currently -2,750.00%.
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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