Genesis Energy, L.P. Given Outperform Rating at Raymond James (GEL)
Genesis Energy, L.P. (NYSE:GEL)‘s stock had its “outperform” rating restated by stock analysts at Raymond James in a report issued on Monday, Stock Ratings News reports. They currently have a $61.00 price target on the stock. Raymond James’ price target suggests a potential upside of 7.66% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Genesis Energy, L.P. from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $54.70 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Genesis Energy, L.P. from $55.00 to $57.00 in a research note on Tuesday. They now have an “equal weight” rating on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Genesis Energy, L.P. from $55.00 to $56.00 in a research note on Monday. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.46.
Genesis Energy, L.P. (NYSE:GEL) traded down 0.19% during mid-day trading on Monday, hitting $56.551. The stock had a trading volume of 156,296 shares. Genesis Energy, L.P. has a 1-year low of $45.37 and a 1-year high of $57.17. The stock has a 50-day moving average of $54.7 and a 200-day moving average of $53.00. The company has a market cap of $5.016 billion and a P/E ratio of 52.27.
Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company posted $0.28 earnings per share. Genesis Energy, L.P.’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that Genesis Energy, L.P. will post $1.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Tuesday, April 29th.
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, Florida and in the Gulf of Mexico.
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