Wells Fargo & Company Cuts Genesis Energy (NYSE:GEL) Price Target to $18.00

Genesis Energy (NYSE:GEL) had its target price cut by equities research analysts at Wells Fargo & Company from $19.00 to $18.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.25% from the stock’s previous close.

Separately, Weiss Ratings lowered Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Genesis Energy Trading Down 2.9%

Shares of GEL opened at $15.89 on Tuesday. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -83.65 and a beta of 0.69. The company has a debt-to-equity ratio of 19.59, a current ratio of 0.98 and a quick ratio of 0.90. Genesis Energy has a 1-year low of $14.38 and a 1-year high of $18.64. The company has a 50-day moving average of $17.49 and a 200 day moving average of $16.69.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). The company had revenue of $446.56 million during the quarter, compared to the consensus estimate of $446.56 million. Genesis Energy had a return on equity of 22.35% and a net margin of 2.11%.Genesis Energy’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.06) earnings per share.

Institutional Investors Weigh In On Genesis Energy

Several hedge funds have recently modified their holdings of the business. Lee Financial Co purchased a new position in Genesis Energy during the third quarter valued at approximately $1,235,000. Alps Advisors Inc. lifted its holdings in Genesis Energy by 2.4% during the third quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock worth $401,362,000 after buying an additional 559,197 shares during the period. ING Groep NV boosted its position in Genesis Energy by 63.5% during the 3rd quarter. ING Groep NV now owns 2,375,800 shares of the pipeline company’s stock valued at $39,700,000 after acquiring an additional 922,600 shares in the last quarter. UBS Group AG boosted its position in Genesis Energy by 31.3% during the 4th quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock valued at $28,301,000 after acquiring an additional 432,771 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Genesis Energy by 15.4% in the 3rd quarter. Citigroup Inc. now owns 435,892 shares of the pipeline company’s stock valued at $7,284,000 after acquiring an additional 58,126 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

About Genesis Energy

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.