Genesis Energy (NYSE:GEL) Downgraded to Market Perform at Raymond James

Genesis Energy (NYSE:GEL) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, June 26th, Marketbeat.com reports. The analysts noted that the move was a valuation call.

Several other equities analysts also recently weighed in on GEL. ValuEngine upgraded YY from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Genesis Energy presently has a consensus rating of “Hold” and an average price target of $27.75.

NYSE:GEL traded up $0.05 during mid-day trading on Wednesday, hitting $23.07. 631,996 shares of the company’s stock traded hands, compared to its average volume of 548,889. The stock has a fifty day moving average of $22.08. The company has a quick ratio of 0.89, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The company has a market cap of $2.81 billion, a P/E ratio of -288.38 and a beta of 1.25. Genesis Energy has a twelve month low of $17.55 and a twelve month high of $25.52.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, May 2nd. The pipeline company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.19). The firm had revenue of $620.00 million during the quarter, compared to analyst estimates of $719.55 million. Genesis Energy had a net margin of 0.07% and a return on equity of 5.10%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. Analysts expect that Genesis Energy will post 0.42 earnings per share for the current year.

In other news, VP Ryan S. Sims acquired 4,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of $21.00 per share, for a total transaction of $84,000.00. Following the acquisition, the vice president now directly owns 8,300 shares in the company, valued at approximately $174,300. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Edward T. Flynn bought 15,700 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired at an average price of $21.73 per share, with a total value of $341,161.00. Following the completion of the purchase, the insider now directly owns 43,916 shares of the company’s stock, valued at $954,294.68. The disclosure for this purchase can be found here. Insiders purchased a total of 69,700 shares of company stock worth $1,502,161 in the last 90 days. 0.72% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Sanders Morris Harris LLC lifted its stake in Genesis Energy by 9.5% in the second quarter. Sanders Morris Harris LLC now owns 62,500 shares of the pipeline company’s stock valued at $1,369,000 after acquiring an additional 5,400 shares during the last quarter. First Trust Advisors LP raised its position in shares of Genesis Energy by 11.8% in the first quarter. First Trust Advisors LP now owns 256,670 shares of the pipeline company’s stock valued at $5,980,000 after purchasing an additional 27,072 shares during the period. Cypress Wealth Advisors LLC raised its position in shares of Genesis Energy by 40.4% in the first quarter. Cypress Wealth Advisors LLC now owns 89,300 shares of the pipeline company’s stock valued at $2,081,000 after purchasing an additional 25,700 shares during the period. Belpointe Asset Management LLC raised its position in shares of Genesis Energy by 12.7% in the first quarter. Belpointe Asset Management LLC now owns 8,001 shares of the pipeline company’s stock valued at $186,000 after purchasing an additional 900 shares during the period. Finally, RR Advisors LLC raised its position in shares of Genesis Energy by 25.0% in the first quarter. RR Advisors LLC now owns 3,290,000 shares of the pipeline company’s stock valued at $76,564,000 after purchasing an additional 657,000 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

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.

See Also: Net Margin

Analyst Recommendations for Genesis Energy (NYSE:GEL)

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