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


In the market the company is trading down by -1.55% since yesterday’s close of $28.135. Company shares last traded at $27.70 which is quite a bit below $30.42, the stock’s 50 day moving average and which is much 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 by -13.71%.

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

Here are some other firms who have updated their holdings. Morgan Stanley cut its ownership by selling 99,723 shares a decrease of 10.4% in the quarter. Morgan Stanley 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 California Public Employees Retirement System had acquired a total of 3,900 shares growing its stake by 2.4%. The value of the investment in GEL went from $5,294,000 to $5,305,000 increasing 0.2% quarter to quarter.

Rafferty Asset Management, LLC grew its holdings by buying 11,570 shares an increase of 12.7%. Rafferty Asset Management, LLC now holds 102,395 shares valued at $3,249,000. The total value of its holdings increased 10.3%. Van Eck Associates Corp divested its investment by shedding 5,444 shares a decrease of 11.7% as of 06/30/2017. Van Eck Associates Corp now controls 41,255 shares worth $1,309,000. The value of the position overall is down by 13.5%.

Baird both upgraded the stock and raised the price target on August 7 changing the price objective from $35.00 to $37.00 and changing the rating from “Neutral” to “Outperform”. On August 7 the company was upgraded from “Neutral” to “Outperform” and a price target of $37.00 was set in a report issued by Baird.

On July 18 the stock rating was downgraded to “Underweight” from “Equal-weight” by Barclays. July 13 investment analysts at Baird left the company rating at “Neutral” but lowered the price target to $35.00 from $52.00.

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

The company currently has a P/E ratio of 28.59 and market capitalization 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 forecasted at $0.34 and the next full year EPS is projected to be $1.57.