Trade Report: Today: Brokerages gives Consensus Recommendation of “Buy” to Genesis Energy, L.P. (GEL)

Today: Brokerages gives Consensus Recommendation of “Buy” to Genesis Energy, L.P. (GEL)

Genesis Energy, L.P. (NYSE:GEL) has earned an average recommendation of “Buy” from the twelve ratings firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $40.50.

GEL has been the topic of a number of recent research reports. DA Davidson reiterated a “buy” rating and issued a $41.00 price objective on shares of Genesis Energy, L.P. in a research report on Monday, November 7th. Citigroup Inc. decreased their price objective on Genesis Energy, L.P. from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. Wunderlich decreased their price objective on Genesis Energy, L.P. from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. Barclays PLC increased their price objective on Genesis Energy, L.P. from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 10th. Finally, Capital One Financial Corp. initiated coverage on Genesis Energy, L.P. in a research report on Monday, October 17th. They issued an “equal weight” rating and a $40.00 price objective on the stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GEL. Miller Howard Investments Inc. NY raised its position in Genesis Energy, L.P. by 2.2% in the second quarter. Miller Howard Investments Inc. NY now owns 2,233,747 shares of the company’s stock valued at $85,709,000 after buying an additional 49,147 shares in the last quarter. Dividend Assets Capital LLC raised its position in Genesis Energy, L.P. by 1.2% in the second quarter. Dividend Assets Capital LLC now owns 1,713,020 shares of the company’s stock valued at $65,729,000 after buying an additional 20,925 shares in the last quarter. Geneva Advisors LLC raised its position in Genesis Energy, L.P. by 13.7% in the second quarter. Geneva Advisors LLC now owns 97,107 shares of the company’s stock valued at $3,726,000 after buying an additional 11,667 shares in the last quarter. Solaris Asset Management LLC raised its position in Genesis Energy, L.P. by 4.2% in the second quarter. Solaris Asset Management LLC now owns 3,075 shares of the company’s stock valued at $118,000 after buying an additional 125 shares in the last quarter. Finally, Pointe Capital Management LLC acquired a new position in Genesis Energy, L.P. during the second quarter valued at $513,000.

Genesis Energy, L.P. (NYSE:GEL) traded down 1.006% on Monday, reaching $33.935. The company had a trading volume of 169,408 shares. The firm has a 50 day moving average price of $35.03 and a 200-day moving average price of $36.46. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 31.894 and a beta of 1.09. Genesis Energy, L.P. has a 12 month low of $19.55 and a 12 month high of $40.90.

Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.05. The company earned $460.05 million during the quarter, compared to analysts’ expectations of $595.60 million. During the same period last year, the company earned $3.38 earnings per share. Genesis Energy, L.P.’s quarterly revenue was down 19.6% on a year-over-year basis. Analysts forecast that Genesis Energy, L.P. will post $1.14 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, October 28th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, October 26th. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 8.17%.

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