Genesis Energy, L.P. (NYSE:GEL) shares fell 3.4% on Thursday . The stock traded as low as $39.40 and last traded at $39.50, with a volume of 339,511 shares. The stock had previously closed at $40.90.

Several research firms have weighed in on GEL. Zacks Investment Research downgraded Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays PLC initiated coverage on Genesis Energy, L.P. in a research report on Wednesday, April 13th. They set an “equal weight” rating and a $35.00 target price for the company. TheStreet upgraded Genesis Energy, L.P. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 14th. Janney Montgomery Scott reiterated a “buy” rating and set a $44.00 target price (up from $32.00) on shares of Genesis Energy, L.P. in a research report on Thursday, June 16th. Finally, Wells Fargo & Co. upgraded Genesis Energy, L.P. from a “market perform” rating to an “outperform” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $44.80.

The firm has a market cap of $4.39 billion and a price-to-earnings ratio of 9.73. The firm has a 50 day moving average price of $38.57 and a 200-day moving average price of $32.24.

Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.03. During the same period in the previous year, the business earned $0.21 EPS. The firm earned $378.40 million during the quarter, compared to analyst estimates of $562.47 million. Genesis Energy, L.P.’s quarterly revenue was down 28.2% on a year-over-year basis. Equities research analysts expect that Genesis Energy, L.P. will post $1.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Wednesday, July 27th. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.67.

Several hedge funds have bought and sold shares of GEL. Liberty Mutual Group Asset Management Inc. boosted its stake in Genesis Energy, L.P. by 31.7% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 95,426 shares of the company’s stock worth $3,506,000 after buying an additional 22,957 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Genesis Energy, L.P. by 68.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,289,176 shares of the company’s stock worth $47,364,000 after buying an additional 522,334 shares during the period. Morgan Stanley raised its stake in shares of Genesis Energy, L.P. by 7.2% in the fourth quarter. Morgan Stanley now owns 2,058,506 shares of the company’s stock worth $75,630,000 after buying an additional 137,570 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Genesis Energy, L.P. by 103.0% in the fourth quarter. Bank of Montreal Can now owns 280,139 shares of the company’s stock worth $10,293,000 after buying an additional 142,143 shares in the last quarter. Finally, Atlantic Trust Group LLC raised its stake in shares of Genesis Energy, L.P. by 74.0% in the fourth quarter. Atlantic Trust Group LLC now owns 1,283,997 shares of the company’s stock worth $47,175,000 after buying an additional 545,961 shares in the last quarter.

Genesis Energy, L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through five segments: Offshore Pipeline Transportation, Onshore 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.