StockNews.com Downgrades Genesis Energy (NYSE:GEL) to Sell

Genesis Energy (NYSE:GEL) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Genesis Energy Trading Down 3.6 %

Shares of GEL stock traded down $0.48 during mid-day trading on Monday, hitting $12.88. 885,257 shares of the company’s stock were exchanged, compared to its average volume of 371,358. The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 4.39. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 37.87 and a beta of 2.11. The stock has a 50-day simple moving average of $13.71 and a two-hundred day simple moving average of $12.43. Genesis Energy has a fifty-two week low of $8.05 and a fifty-two week high of $15.17.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22). The firm had revenue of $756.26 million during the quarter. Genesis Energy had a return on equity of 8.12% and a net margin of 2.34%. During the same quarter in the prior year, the business earned $0.22 earnings per share.

Institutional Trading of Genesis Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its position in shares of Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after acquiring an additional 3,073 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Genesis Energy in the second quarter worth about $1,073,000. Chickasaw Capital Management LLC grew its stake in Genesis Energy by 6.5% in the second quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock worth $61,411,000 after purchasing an additional 262,784 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Genesis Energy by 19.9% in the first quarter. Advisors Asset Management Inc. now owns 208,150 shares of the pipeline company’s stock worth $2,315,000 after purchasing an additional 34,614 shares in the last quarter. Finally, Paragon Associates & Paragon Associates II Joint Venture acquired a new position in Genesis Energy in the first quarter worth about $111,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Company Profile

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.