Genesis Energy (NYSE:GEL) Price Target Raised to $16.00 at Royal Bank of Canada

by · The Cerbat Gem

Genesis Energy (NYSE:GEL – Get Free Report) had its price objective increased by equities researchers at Royal Bank of Canada from $15.00 to $16.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 19.31% from the company’s previous close.

Separately, StockNews.com cut shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

Get Our Latest Stock Report on GEL

Genesis Energy Price Performance

Genesis Energy stock traded down $0.09 during mid-day trading on Wednesday, reaching $13.41. The company had a trading volume of 82,649 shares, compared to its average volume of 356,250. The stock’s 50-day simple moving average is $13.31 and its 200-day simple moving average is $13.17. Genesis Energy has a 1 year low of $10.01 and a 1 year high of $15.17. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96. The company has a market capitalization of $1.64 billion, a P/E ratio of 39.44 and a beta of 2.10.

Genesis Energy (NYSE:GEL – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.22). The firm had revenue of $756.26 million for the quarter. Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. During the same period in the previous year, the company posted $0.22 earnings per share.

Insiders Place Their Bets

In other news, VP Garland G. Gaspard bought 2,261 shares of Genesis Energy stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $13.27 per share, for a total transaction of $30,003.47. Following the acquisition, the vice president now owns 19,525 shares in the company, valued at approximately $259,096.75. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genesis Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning boosted its stake in Genesis Energy by 1.9% in the 3rd quarter. Creative Planning now owns 3,105,454 shares of the pipeline company’s stock worth $41,520,000 after buying an additional 59,263 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Genesis Energy by 1.0% in the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock valued at $1,777,000 after purchasing an additional 1,286 shares during the period. Axiom Advisory LLC increased its position in Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 794 shares during the last quarter. ELCO Management Co. LLC raised its stake in Genesis Energy by 10.7% during the second quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company’s stock worth $2,695,000 after purchasing an additional 18,170 shares during the period. Finally, XTX Topco Ltd boosted its holdings in Genesis Energy by 40.9% in the second quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock valued at $443,000 after acquiring an additional 8,984 shares during the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

About Genesis Energy

(Get Free Report)

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.

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