Genesis Energy, L.P. (NYSE:GEL) saw strong trading volume on Friday . 5,423,109 shares changed hands during trading, an increase of 568% from the previous session’s volume of 811,988 shares.The stock last traded at $37.57 and had previously closed at $39.90.

A number of analysts have commented on the company. Zacks Investment Research downgraded Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Co. upgraded Genesis Energy, L.P. from a “market perform” rating to an “outperform” rating in a research report on Monday, July 18th. Citigroup Inc. upgraded Genesis Energy, L.P. from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $48.00 to $46.00 in a research report on Friday, July 1st. TheStreet upgraded Genesis Energy, L.P. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 14th. Finally, Janney Montgomery Scott restated a “buy” rating and issued a $44.00 price objective (up from $32.00) on shares of Genesis Energy, L.P. in a research report on Thursday, June 16th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Genesis Energy, L.P. has a consensus rating of “Buy” and a consensus target price of $43.44.

The firm has a market cap of $4.16 billion and a PE ratio of 9.24. The firm has a 50-day moving average of $38.54 and a 200-day moving average of $32.30.

Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by $0.03. The firm earned $378.40 million during the quarter, compared to the consensus estimate of $562.47 million. During the same quarter in the previous year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 28.2% compared to the same quarter last year. Analysts predict that Genesis Energy, L.P. will post $1.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date is Wednesday, July 27th. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.67.

Several institutional investors recently modified their holdings of the company. Chickasaw Capital Management LLC boosted its position in shares of Genesis Energy, L.P. by 12.1% in the fourth quarter. Chickasaw Capital Management LLC now owns 4,780,473 shares of the company’s stock worth $175,635,000 after buying an additional 516,519 shares during the last quarter. Morgan Stanley boosted its position 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 during the last quarter. Atlantic Trust Group LLC boosted its position 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 during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Genesis Energy, L.P. by 10.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 367,700 shares of the company’s stock worth $13,509,000 after buying an additional 34,000 shares during the last quarter. Finally, Bank of Montreal Can boosted its position 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 during 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.