After RBC Capital and UBS gave Genesis Energy LP (NYSE: GEL) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Justin Jenkins reiterated a Buy rating on Genesis Energy LP today and set a price target of $25. The company’s shares closed yesterday at $21.54.
According to TipRanks.com, Jenkins is a 5-star analyst with an average return of 8.6% and a 61.1% success rate. Jenkins covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Valero Energy Corp, and Sprague Resources.
Genesis Energy LP has an analyst consensus of Strong Buy, with a price target consensus of $27, implying a 25.3% upside from current levels. In a report issued on January 28, UBS also maintained a Buy rating on the stock with a $29 price target.
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Based on Genesis Energy LP’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $323K. In comparison, last year the company had a net profit of $15.51 million.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GEL in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Genesis Energy LP operates as a master limited partnership, which focuses on midstream segment of the oil and gas industry. It provides integrated suite of services to oil producers, refineries, and industrial and commercial enterprises.
