Genesis Energy, L.P. Common Uni (GEL) Hits a New 52-Week High


The company is trading down since yesterday’s close of $28.14. Company shares last traded at $27.70 significantly lower than the 50 day moving average which is $30.42 and impressively lower than the 200 day moving average of $32.10. The 50 day moving average was down by -8.94% and the 200 day average went down $-4.40 or -13.71%.

Here is the rundown on market activity for Genesis Energy, L.P. Common Uni (NYSE:GEL). Robert V. Deere, CFO bought $1,031,560 worth of shares at an average price of $30.34 on June 13th. Deere now owns $23,784,588 of stock as reported to the SEC.

Genesis Energy L.P., launched on September 5, 1996, is a limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States, principally Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida, Wyoming, and in the Gulf of Mexico. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is involved in the offshore transportation of crude oil and natural gas in the Gulf of Mexico. The Refinery Services segment is involved in the processing of high sulfur (or sour) gas streams as part of refining operations to remove the sulfur and selling the related by-product, sodium hydrosulfide (NaHS). The Marine Transportation segment provides waterborne transportation of petroleum products and crude oil throughout North America. The Supply and Logistics segment is involved in terminaling, blending, storing, marketing, and transporting crude oil and petroleum products (fuel oil, asphalt and other heavy refined products) and carbon dioxide..

Here are a few additional firms who have increased or decreased their stake in (GEL). Morgan Stanley cut its holdings by selling 99,723 shares a decrease of 10.4%. Morgan Stanley claims 857,437 shares with a value of $27,206,000. The value of the position overall is down by 12.3%. As of the end of the quarter California Public Employees Retirement System had bought 3,900 shares growing its stake by 2.4%. The value of the investment in Genesis Energy, L.P. Common Uni increased from $5,294,000 to $5,305,000 a change of $11,000 quarter to quarter.

Rafferty Asset Management, LLC augmented its stake by buying 11,570 shares an increase of 12.7% from 03/31/2017 to 06/30/2017. Rafferty Asset Management, LLC owns 102,395 shares valued at $3,249,000. The total value of its holdings increased 10.3%. Van Eck Associates Corp trimmed its investment by selling 5,444 shares a decrease of 11.7% as of 06/30/2017. Van Eck Associates Corp currently owns 41,255 shares worth $1,309,000. The value of the position overall is down by 13.5%.

Equity analyst Baird both upgraded the stock and raised the price target on August 7 boosting the price target from $35.00 to $37.00 and altering the rating from “Neutral” to “Outperform”. On August 7 the stock rating was upgraded from “Neutral” to “Outperform” with a current price target of $37.00 by analysts at Baird.

On July 18 the company was set at “Underweight” in a report from Barclays which was a cut from the previous “Equal-weight” rating. On July 13 Baird made no change to the company rating of “Neutral” but lowered the price expectation from $52.00 to $35.00.

The company recently declared a dividend that will be paid on Mon Aug 14, 2017. The dividend will be $0.723 per share for the quarter or $2.89 on an annualized basis. This dividend represents a yeild of $10.24 which is the dividend as a percentage of the current share price. The ex-dividend date is Thursday the 27th of July 2017.

The most current P/E ratio is 28.59 and market cap is 3.40B. In the latest earnings report the EPS was $0.97 and is estimated to be $1.09 for the current year with 122,579,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.34 and the next full year EPS is projected to be $1.57.