Wells Fargo & Company Lowers Genesis Energy (NYSE:GEL) Price Target to $18.00

Genesis Energy (NYSE:GEL) had its price objective cut by stock analysts at Wells Fargo & Company from $19.00 to $18.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 14.75% from the stock’s previous close.

Separately, Weiss Ratings downgraded Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Genesis Energy currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Genesis Energy Price Performance

Shares of NYSE GEL opened at $15.69 on Tuesday. Genesis Energy has a twelve month low of $14.55 and a twelve month high of $18.64. The stock’s 50 day moving average price is $17.40 and its 200-day moving average price is $16.69. The company has a market capitalization of $1.92 billion, a PE ratio of -82.56 and a beta of 0.69. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 25.62.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.The business had revenue of $446.56 million during the quarter, compared to analysts’ expectations of $446.56 million. During the same quarter in the previous year, the firm earned ($4.06) EPS. Genesis Energy’s quarterly revenue was up 12.1% on a year-over-year basis.

Institutional Investors Weigh In On Genesis Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of GEL. Lee Financial Co purchased a new stake in shares of Genesis Energy in the third quarter worth $1,235,000. Alps Advisors Inc. raised its position in shares of Genesis Energy by 2.4% in the third quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock worth $401,362,000 after buying an additional 559,197 shares in the last quarter. ING Groep NV raised its position in shares of Genesis Energy by 63.5% in the third quarter. ING Groep NV now owns 2,375,800 shares of the pipeline company’s stock worth $39,700,000 after buying an additional 922,600 shares in the last quarter. UBS Group AG raised its position in shares of Genesis Energy by 31.3% in the fourth quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock worth $28,301,000 after buying an additional 432,771 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Genesis Energy by 15.4% in the third quarter. Citigroup Inc. now owns 435,892 shares of the pipeline company’s stock worth $7,284,000 after buying an additional 58,126 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Company Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.