Genesis Energy, L.P. Rating Increased to Neutral at Zacks (GEL)
Genesis Energy, L.P. (NYSE:GEL) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Wednesday. The firm currently has a $58.10 price target on the stock. Zacks‘s price objective suggests a potential upside of 1.72% from the stock’s previous close.
Genesis Energy, L.P. (NYSE:GEL) traded up 0.16% on Wednesday, hitting $57.21. The stock had a trading volume of 97,683 shares. Genesis Energy, L.P. has a one year low of $45.37 and a one year high of $57.42. The stock has a 50-day moving average of $55.41 and a 200-day moving average of $53.73. The company has a market cap of $5.074 billion and a price-to-earnings ratio of 52.69.
Genesis Energy, L.P. (NYSE:GEL) last released its 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 in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that Genesis Energy, L.P. will post $1.50 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of Genesis Energy, L.P. in a research note on Monday, May 5th. They now have a $61.00 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, May 6th. 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, May 5th. They now have a “neutral” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Genesis Energy, L.P. presently has a consensus rating of “Hold” and an average price target of $57.59.
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.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.