Genesis Energy, L.P. Given Consensus Recommendation of “Hold” by Brokerages (NYSE:GEL)
Shares of Genesis Energy, L.P. (NYSE:GEL) have been given a consensus recommendation of “Hold” by the twelve analysts that are currently covering the stock, Stock Ratings News reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $56.87.
Shares of Genesis Energy, L.P. (NYSE:GEL) opened at 54.57 on Wednesday. Genesis Energy, L.P. has a 1-year low of $45.81 and a 1-year high of $57.47. The stock’s 50-day moving average is $55.42 and its 200-day moving average is $54.60. The company has a market cap of $4.840 billion and a price-to-earnings ratio of 49.99.
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 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. Analysts expect that Genesis Energy, L.P. will post $1.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Friday, August 1st will be given a dividend of $0.565 per share. This represents a $2.26 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.55.
A number of analysts have recently weighed in on GEL shares. Analysts at Zacks downgraded shares of Genesis Energy, L.P. from a “neutral” rating to an “underperform” rating in a research note on Monday, July 7th. They now have a $53.10 price target on the stock. Finally, 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.
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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