Genesis Energy, L.P. Now Covered by Oppenheimer (GEL)
Equities researchers at Oppenheimer assumed coverage on shares of Genesis Energy, L.P. (NYSE:GEL) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock. The analysts noted that the move was a valuation call.
Shares of Genesis Energy, L.P. (NYSE:GEL) opened at 48.82 on Tuesday. Genesis Energy, L.P. has a one year low of $30.86 and a one year high of $55.99. The stock’s 50-day moving average is $49.83 and its 200-day moving average is $49.24. The company has a market cap of $4.049 billion and a price-to-earnings ratio of 36.71.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.35 by $0.02. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts predict that Genesis Energy, L.P. will post $1.45 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on GEL. Analysts at Barclays Capital reiterated a “buy” rating on shares of Genesis Energy, L.P. (NYSE:GEL) in a research note to investors on Tuesday, August 27th. They now have a $54.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Genesis Energy, L.P. (NYSE:GEL) from $55.00 to $56.00 in a research note to investors on Tuesday, August 27th. They now have a “buy” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Genesis Energy, L.P. (NYSE:GEL) from $55.00 to $57.00 in a research note to investors on Friday, August 2nd. They now have an “outperform” rating on the stock.
Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Genesis Energy, L.P. has an average rating of “Buy” and an average target price of $49.22.
Genesis Energy, L.P. (NYSE:GEL) is a limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States, primarily Texas, Louisiana, Arkansas, Mississippi, Alabama and Florida.
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