Genesis Energy, L.P. (NYSE:GEL) shares saw unusually-strong trading volume on Friday . Approximately 1,263,872 shares traded hands during trading, an increase of 98% from the previous session’s volume of 638,768 shares.The stock last traded at $22.62 and had previously closed at $22.56.
Several equities analysts have recently issued reports on GEL shares. Zacks Investment Research raised Genesis Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 27th. ValuEngine lowered Genesis Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.75.
The company has a debt-to-equity ratio of 2.04, a current ratio of 1.33 and a quick ratio of 1.11. The company has a market cap of $2.77 billion, a price-to-earnings ratio of -282.75 and a beta of 1.43.
Genesis Energy (NYSE:GEL) last released its earnings results on Wednesday, February 20th. The pipeline company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.06. Genesis Energy had a positive return on equity of 5.16% and a negative net margin of 0.21%. The firm had revenue of $689.30 million for the quarter, compared to analyst estimates of $737.40 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Genesis Energy, L.P. will post 0.95 earnings per share for the current fiscal year.
In related news, VP Chad Anthony Landry bought 10,000 shares of the business’s stock in a transaction on Tuesday, December 18th. The shares were purchased at an average price of $19.75 per share, with a total value of $197,500.00. Following the completion of the purchase, the vice president now owns 20,000 shares of the company’s stock, valued at approximately $395,000. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. raised its position in shares of Genesis Energy by 12.6% during the fourth quarter. Alps Advisors Inc. now owns 10,869,013 shares of the pipeline company’s stock worth $200,751,000 after purchasing an additional 1,216,789 shares during the period. Harvest Fund Advisors LLC raised its position in shares of Genesis Energy by 4.8% during the fourth quarter. Harvest Fund Advisors LLC now owns 6,239,022 shares of the pipeline company’s stock worth $115,235,000 after purchasing an additional 285,839 shares during the period. JPMorgan Chase & Co. raised its position in shares of Genesis Energy by 2.7% during the third quarter. JPMorgan Chase & Co. now owns 2,916,593 shares of the pipeline company’s stock worth $69,356,000 after purchasing an additional 77,911 shares during the period. RR Advisors LLC raised its position in shares of Genesis Energy by 17.7% during the fourth quarter. RR Advisors LLC now owns 2,633,000 shares of the pipeline company’s stock worth $48,547,000 after purchasing an additional 396,000 shares during the period. Finally, Advisory Research Inc. raised its position in shares of Genesis Energy by 4.9% during the third quarter. Advisory Research Inc. now owns 2,405,182 shares of the pipeline company’s stock worth $57,195,000 after purchasing an additional 112,121 shares during the period. 75.58% of the stock is currently owned by hedge funds and other institutional investors.
Genesis Energy Company Profile (NYSE:GEL)
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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