Genesis Energy (NYSE:GEL) Price Target Cut to $18.00 by Analysts at Wells Fargo & Company

Genesis Energy (NYSE:GEL) had its price target lowered by equities research analysts at Wells Fargo & Company from $19.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 13.25% from the company’s previous close.

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

Genesis Energy Stock Performance

NYSE GEL opened at $15.89 on Tuesday. The company has a debt-to-equity ratio of 19.59, a current ratio of 0.98 and a quick ratio of 0.90. Genesis Energy has a 1-year low of $14.38 and a 1-year high of $18.64. The business has a 50 day simple moving average of $17.49 and a two-hundred day simple moving average of $16.69. The stock has a market capitalization of $1.95 billion, a PE ratio of -83.65 and a beta of 0.69.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.22). Genesis Energy had a net margin of 2.11% and a return on equity of 22.35%. The business had revenue of $446.56 million for the quarter, compared to analysts’ expectations of $446.56 million. During the same quarter in the prior year, the company posted ($4.06) earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year.

Institutional Trading of Genesis Energy

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Genesis Energy by 140.6% during the first quarter. Bank of New York Mellon Corp now owns 34,895 shares of the pipeline company’s stock valued at $622,000 after buying an additional 20,394 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Genesis Energy by 1,714.5% in the first quarter. Geneos Wealth Management Inc. now owns 13,155 shares of the pipeline company’s stock worth $235,000 after buying an additional 12,430 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Genesis Energy during the 1st quarter worth approximately $473,000. Manning & Napier Advisors LLC lifted its stake in shares of Genesis Energy by 3.1% during the 1st quarter. Manning & Napier Advisors LLC now owns 484,963 shares of the pipeline company’s stock worth $8,647,000 after acquiring an additional 14,676 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in Genesis Energy during the 1st quarter valued at $313,000. 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.