Genesis Energy, L.P. Common Uni (GEL) Reaches 52-Week High

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The company is trading down since yesterday’s close of $28.135. Shares of the company are trading at $27.77 significantly below the 50 day moving average of $30.45 and which is significantly lower than the 200 day moving average of $32.16. The 50 day moving average was down by -8.73% whereas the 200 day moving average was down $-4.37 or -13.59%.

There has been some buying insider activity on Genesis Energy, L.P. Common Uni (NYSE:GEL) recently. Robert V. Deere, CFO disclosed the purchase of 34,000 shares of GEL stock. The shares were bought on June 13th for an average price of $30.34. The CFO now owns $23,784,588 of the stock per the Form 4 SEC filing.

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..

These firms have also modified their investment in GEL. Morgan Stanley reduced its stake by selling 99,723 shares a decrease of 10.4% as of 06/30/2017. Morgan Stanley now controls 857,437 shares with a value of $27,206,000. The value of the position overall is down by 12.3%. As of quarter end Rafferty Asset Management, LLC had acquired 11,570 shares growing its stake by 12.7%. The value in dollars went from $2,945,000 to $3,249,000 increasing 10.3% quarter over quarter.

As of the end of the quarter Van Eck Associates Corp had sold a total of 5,444 shares trimming its holdings by 11.7%. The value of the company’s investment in Genesis Energy, L.P. Common Uni decreased from $1,514,000 to $1,309,000 a change of $205,000 since the last quarter. Heronetta Management, L.p. grew its position by buying 8,000 shares an increase of 50.0% in the quarter. Heronetta Management, L.p. owns 24,000 shares worth $762,000. The total value of its holdings increased 46.8%.

Equity analyst Baird raised the price target and upgraded the stock on August 7 changing 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” and a price target of $37.00 was set in a report from Baird.

On July 18 the company was downgraded to “Underweight” from “Equal-weight” by Barclays. July 13 investment analysts at Baird made no change to the stock rating of “Neutral” and lowered the price target from $52.00 to $35.00.

Genesis Energy, L.P. Common Uni also declared a dividend for shareholders which will be paid on Monday the 14th of August 2017. The dividend payment will be $0.723 per share for the quarter which is $2.89 annualized. The dividend yield will be $10.24. The ex-dividend date is set for Thursday the 27th of July 2017.

Genesis Energy, L.P. Common Uni currently has a P/E ratio of 28.68 and market cap is 3.41B. In the last earnings report the EPS was $0.97 and is projected to be $1.09 for the current year with 122,579,000 shares currently outstanding. Next quarter’s EPS is expected be $0.34 and the next full year EPS is anticipated to be $1.57.