Genesis Energy, L.P. (NYSE:GEL) fell 3.1% during mid-day trading on Wednesday . The company traded as low as $36.03 and last traded at $36.03, with a volume of 347,243 shares changing hands. The stock had previously closed at $37.17.

A number of brokerages have recently issued reports on GEL. Zacks Investment Research cut shares of Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Wells Fargo & Co. raised shares of Genesis Energy, L.P. from a “market perform” rating to an “outperform” rating in a report on Monday, July 18th. Citigroup Inc. raised shares of Genesis Energy, L.P. from a “neutral” rating to a “buy” rating and dropped their target price for the company from $48.00 to $46.00 in a report on Friday, July 1st. TheStreet raised shares of Genesis Energy, L.P. from a “hold” rating to a “buy” rating in a report on Tuesday, June 14th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $44.00 target price (up from $32.00) on shares of Genesis Energy, L.P. in a report on Thursday, June 16th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $43.44.

The firm has a market cap of $3.95 billion and a P/E ratio of 8.76. The company has a 50-day moving average of $38.32 and a 200 day moving average of $32.35.

Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.03. The business earned $378.40 million during the quarter, compared to analyst estimates of $562.47 million. The business’s revenue was down 28.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. Equities analysts predict that Genesis Energy, L.P. will post $1.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.69 per share. The ex-dividend date is Wednesday, July 27th. This represents a $2.76 dividend on an annualized basis and a yield of 7.68%. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.67.

A number of institutional investors recently added to or reduced their stakes in GEL. Chickasaw Capital Management LLC increased its position in 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 period. Atlantic Trust Group LLC increased its position in 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 period. Bank of Montreal Can increased its position in 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 period. Morgan Stanley increased its position in 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 period. Finally, Fort Washington Investment Advisors Inc. OH increased its position in 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 period.

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.

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