GSA Capital Partners LLP Takes Position in Genesis Energy, L.P. (GEL)
GSA Capital Partners LLP bought a new position in Genesis Energy, L.P. (NYSE:GEL) during the second quarter, Holdings Channel reports. The fund bought 9,896 shares of the company’s stock, valued at approximately $380,000.
Several other institutional investors also recently modified their holdings of the company. Babson Capital Management LLC bought a new position in shares of Genesis Energy, L.P. during the first quarter worth about $2,015,000. Renaissance Technologies LLC bought a new position in shares of Genesis Energy, L.P. during the first quarter worth about $3,802,000. Mariner Wealth Advisors LLC bought a new position in shares of Genesis Energy, L.P. during the first quarter worth about $528,000. Uniplan Investment Counsel Inc. bought a new position in shares of Genesis Energy, L.P. during the first quarter worth about $2,420,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Genesis Energy, L.P. during the first quarter worth about $2,086,000.
Shares of Genesis Energy, L.P. (NYSE:GEL) traded up 0.54% during mid-day trading on Friday, hitting $35.64. The company’s stock had a trading volume of 239,038 shares. Genesis Energy, L.P. has a 1-year low of $19.55 and a 1-year high of $44.32. The company has a 50-day moving average price of $35.63 and a 200-day moving average price of $35.01. The stock has a market cap of $4.20 billion, a PE ratio of 8.67 and a beta of 1.09.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.15. The firm earned $446 million during the quarter, compared to the consensus estimate of $585.96 million. The firm’s revenue for the quarter was down 32.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 earnings per share. Analysts predict that Genesis Energy, L.P. will post $1.30 EPS for the current fiscal year.
A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Wells Fargo & Co. raised Genesis Energy, L.P. from a “market perform” rating to an “outperform” rating in a research report on Monday, July 18th. Citigroup Inc. raised Genesis Energy, L.P. from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $48.00 to $46.00 in a research report on Friday, July 1st. TheStreet raised Genesis Energy, L.P. from a “hold” rating to a “buy” rating in a research report on Tuesday, June 14th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $44.00 target price (up previously from $32.00) on shares of Genesis Energy, L.P. in a research report on Thursday, June 16th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $42.22.
About Genesis Energy, L.P.
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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