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


The company is so far trading down by -1.56 percent from yesterday’s close. It is trading at $27.70 a great deal lower than the 50 day moving average which is $30.42 and which is significantly lower than the 200 day moving average of $32.10. The 50 day moving average went down by -8.94% whereas the 200 day moving average was down $-4.40 or -13.71%.

Genesis Energy, L.P. Common Uni (NYSE:GEL) has been the object of insider buying activity recently. CFO Robert V. Deere acquired 34,000 shares at an average price of $30.34 on Tue the 13th. That brings the CFO’s holdings to $23,784,588 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..

These firms have also modified their investment in GEL. Morgan Stanley cut its ownership by shedding 99,723 shares a decrease of 10.4% as of 06/30/2017. Morgan Stanley currently owns 857,437 shares worth $27,206,000. The total value of its holdings decreased 12.3%. As of the end of the quarter California Public Employees Retirement System had bought a total of 3,900 shares growing its holdings by 2.4%. The value in dollars went from $5,294,000 to $5,305,000 increasing 0.2% quarter over quarter.

Rafferty Asset Management, LLC augmented its holdings by buying 11,570 shares an increase of 12.7% from 03/31/2017 to 06/30/2017. Rafferty Asset Management, LLC now holds 102,395 shares with a value of $3,249,000. The value of the position overall is up by 10.3%. Van Eck Associates Corp downsized its investment by selling 5,444 shares a decrease of 11.7% in the quarter. Van Eck Associates Corp claims 41,255 shares valued at $1,309,000. The total value of its holdings decreased 13.5%.

Equity analyst Baird upgraded the stock and raised the price target on August 7 boosting the price target from $35.00 to $37.00 and changing the rating from “Neutral” to “Outperform”. On August 7 the stock rating was upgraded to “Outperform” from “Neutral” and a price target of $37.00 was set by Baird.

On July 18 the company was downgraded from “Equal-weight” to “Underweight” in a statement from Barclays. July 13 investment analysts at Baird maintained a company rating of “Neutral” but moved down the price target to $35.00 from $52.00.

Additionally Genesis Energy, L.P. Common Uni announced a dividend that will be paid on Monday the 14th of August 2017. The dividend will be $0.723 per share for the quarter or $2.89 on an annualized basis. This dividend represents a yield of $10.24. The ex-dividend date is Thursday the 27th of July 2017.

The most current P/E ratio is 28.59 and market capitalization is 3.40B. As of the latest earnings report the EPS was $0.97 and is projected to be $1.09 for the current year with 122,579,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.34 with next year’s EPS projected to be $1.57.