Genesis Energy, L.P. Lowered to “Equal Weight” at Barclays (GEL)
Genesis Energy, L.P. (NYSE:GEL) was downgraded by research analysts at Barclays to an “equal weight” rating in a report released on Tuesday, Analyst Ratings Network reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse upgraded shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, January 9th. Separately, analysts at MLV Capital initiated coverage on shares of Genesis Energy, L.P. in a research note to investors on Monday, December 2nd. They set a “hold” rating on the stock. Finally, analysts at Wells Fargo & Co. downgraded shares of Genesis Energy, L.P. from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $52.80.
Genesis Energy, L.P. (NYSE:GEL) opened at 52.768 on Tuesday. Genesis Energy, L.P. has a 52 week low of $37.07 and a 52 week high of $55.99. The stock’s 50-day moving average is $51.65 and its 200-day moving average is $50.64. The company has a market cap of $4.680 billion and a P/E ratio of 45.78.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.38 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company posted $0.39 earnings per share. Genesis Energy, L.P.’s revenue was up 20.9% compared to the same quarter last year. On average, analysts predict that Genesis Energy, L.P. will post $1.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of 0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Wednesday, January 29th. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.52.
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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