Genesis Energy, L.P. (GEL) Now Covered by Analysts at Capital One Financial Corp.
Capital One Financial Corp. began coverage on shares of Genesis Energy, L.P. (NYSE:GEL) in a report published on Monday. The brokerage issued an equal weight rating and a $40.00 price target on the stock.
A number of other equities analysts also recently commented on the stock. Citigroup Inc. upgraded shares of Genesis Energy, L.P. from a neutral rating to a buy rating and reduced their price objective for the stock from $48.00 to $46.00 in a research note on Friday, July 1st. Credit Suisse Group AG reaffirmed a neutral rating on shares of Genesis Energy, L.P. in a report on Monday, August 15th. Wells Fargo & Co. raised shares of Genesis Energy, L.P. from a market perform rating to an outperform rating in a report on Monday, July 18th. Zacks Investment Research cut shares of Genesis Energy, L.P. from a hold rating to a strong sell rating in a report on Wednesday, October 5th. Finally, Barclays PLC upped their target price on shares of Genesis Energy, L.P. from $33.00 to $36.00 and gave the company an equal weight rating in a report on Wednesday, August 10th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $41.11.
Genesis Energy, L.P. (NYSE:GEL) traded up 0.19% on Monday, reaching $36.53. The company’s stock had a trading volume of 33,485 shares. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 8.89 and a beta of 1.09. Genesis Energy, L.P. has a 52 week low of $19.55 and a 52 week high of $44.00. The firm’s 50 day moving average price is $35.83 and its 200-day moving average price is $35.89.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.15. The firm had revenue of $446 million for the quarter, compared to the consensus estimate of $585.96 million. During the same period last year, the company posted $0.12 EPS. Genesis Energy, L.P.’s revenue was down 32.0% on a year-over-year basis. On average, equities analysts predict that Genesis Energy, L.P. will post $1.30 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 28th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, October 26th. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a yield of 7.68%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Enterprise Financial Services Corp boosted its position in Genesis Energy, L.P. by 0.5% in the second quarter. Enterprise Financial Services Corp now owns 2,654 shares of the company’s stock valued at $102,000 after buying an additional 14 shares during the period. Balentine LLC bought a new stake in shares of Genesis Energy, L.P. during the second quarter valued at approximately $115,000. Solaris Asset Management LLC raised its stake in shares of Genesis Energy, L.P. by 4.2% in the second quarter. Solaris Asset Management LLC now owns 3,075 shares of the company’s stock valued at $118,000 after buying an additional 125 shares in the last quarter. Advisor Group Inc. bought a new stake in shares of Genesis Energy, L.P. during the second quarter valued at approximately $122,000. Finally, Kings Point Capital Management bought a new stake in shares of Genesis Energy, L.P. during the second quarter valued at approximately $129,000.
Genesis Energy, L.P. Company Profile
Genesis Energy, L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through five segments: Offshore Pipeline Transportation, Onshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.
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