Genesis Energy (GEL) Stock Rating Reaffirmed by UBS Group
UBS Group reaffirmed their buy rating on shares of Genesis Energy (NYSE:GEL) in a research note published on Friday, www.benzinga.com reports. UBS Group currently has a $38.00 target price on the pipeline company’s stock, down from their prior target price of $39.00.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Genesis Energy from a buy rating to a hold rating in a research note on Tuesday, January 16th. Barclays cut their target price on Genesis Energy from $27.00 to $26.00 and set an equal weight rating on the stock in a research note on Monday, November 6th. ValuEngine upgraded Genesis Energy from a sell rating to a hold rating in a research note on Friday, December 1st. Finally, Robert W. Baird set a $29.00 target price on Genesis Energy and gave the company a buy rating in a research note on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $32.70.
Genesis Energy (NYSE:GEL) opened at $19.83 on Friday. Genesis Energy has a one year low of $19.25 and a one year high of $34.37. The stock has a market capitalization of $2,429.95, a price-to-earnings ratio of 18.53 and a beta of 1.15. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.20 and a current ratio of 1.39.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 10.29%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, January 30th. Genesis Energy’s dividend payout ratio (DPR) is presently 400.01%.
In other Genesis Energy news, Director Kenneth M. Jastrow II purchased 15,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were bought at an average cost of $22.32 per share, with a total value of $334,800.00. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $1,116,000. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.72% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Genesis Energy by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock valued at $124,000 after purchasing an additional 271 shares during the period. Bank of New York Mellon Corp grew its holdings in Genesis Energy by 25.9% during the second quarter. Bank of New York Mellon Corp now owns 8,363 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 1,720 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Genesis Energy by 342.2% during the third quarter. Chicago Partners Investment Group LLC now owns 4,351 shares of the pipeline company’s stock worth $115,000 after acquiring an additional 3,367 shares during the period. Sanders Morris Harris LLC grew its holdings in Genesis Energy by 7.0% during the fourth quarter. Sanders Morris Harris LLC now owns 56,700 shares of the pipeline company’s stock worth $1,267,000 after acquiring an additional 3,700 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Genesis Energy by 2.2% during the third quarter. California Public Employees Retirement System now owns 170,960 shares of the pipeline company’s stock worth $4,505,000 after acquiring an additional 3,760 shares during the period. 74.50% of the stock is currently owned by institutional investors.
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Genesis Energy Company Profile
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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