Shares of Genesis Energy, L.P. (NYSE:GEL) hit a new 52-week low during trading on Wednesday . The stock traded as low as $28.04 and last traded at $28.16, with a volume of 566,464 shares trading hands. The stock had previously closed at $28.43.

Several brokerages have recently commented on GEL. BidaskClub upgraded shares of Genesis Energy, L.P. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, July 12th. Credit Suisse Group upgraded shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating in a research report on Monday, May 15th. Barclays PLC downgraded shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $33.00 to $31.00 in a research report on Tuesday, July 18th. Finally, Robert W. Baird restated a “neutral” rating and set a $35.00 price objective (down from $37.00) on shares of Genesis Energy, L.P. in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Genesis Energy, L.P. presently has an average rating of “Hold” and an average target price of $37.55.

The stock’s 50 day moving average price is $30.49 and its 200 day moving average price is $32.36. The company has a market cap of $3.46 billion, a P/E ratio of 31.03 and a beta of 1.20.

Genesis Energy, L.P. (NYSE:GEL) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.23 by $0.05. The company had revenue of $406.72 million for the quarter, compared to analyst estimates of $503.22 million. Genesis Energy, L.P. had a net margin of 6.73% and a return on equity of 5.32%. Analysts predict that Genesis Energy, L.P. will post $1.06 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be given a dividend of $0.723 per share. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. This represents a $2.89 annualized dividend and a dividend yield of 10.17%. The ex-dividend date is Thursday, July 27th. Genesis Energy, L.P.’s payout ratio is presently 294.90%.

In other Genesis Energy, L.P. news, CFO Robert V. Deere acquired 34,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average cost of $30.34 per share, for a total transaction of $1,031,560.00. Following the transaction, the chief financial officer now directly owns 783,935 shares of the company’s stock, valued at $23,784,587.90. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised its stake in Genesis Energy, L.P. by 38.3% in the first quarter. OppenheimerFunds Inc. now owns 14,212,229 shares of the pipeline company’s stock valued at $460,760,000 after buying an additional 3,932,520 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Genesis Energy, L.P. by 4.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock valued at $327,222,000 after buying an additional 431,059 shares in the last quarter. Clearbridge Investments LLC raised its stake in Genesis Energy, L.P. by 2.7% in the first quarter. Clearbridge Investments LLC now owns 9,054,077 shares of the pipeline company’s stock valued at $293,533,000 after buying an additional 238,610 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in Genesis Energy, L.P. by 3.8% in the second quarter. Chickasaw Capital Management LLC now owns 8,250,616 shares of the pipeline company’s stock valued at $261,792,000 after buying an additional 301,090 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in Genesis Energy, L.P. by 8.2% in the second quarter. Alps Advisors Inc. now owns 7,832,361 shares of the pipeline company’s stock valued at $248,521,000 after buying an additional 594,859 shares in the last quarter. Institutional investors and hedge funds own 73.99% of the company’s stock.

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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 four segments: Offshore 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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