RBC Capital Lowers Genesis Energy, L.P. Price Target to $61.00 (GEL)
Analysts at RBC Capital decreased their price objective on shares of Genesis Energy, L.P. (NYSE:GEL) from $63.00 to $61.00 in a research report issued to clients and investors on Friday. RBC Capital’s price target would suggest a potential upside of 18.82% from the company’s current price.
Shares of Genesis Energy, L.P. (NYSE:GEL) traded down 2.19% during mid-day trading on Friday, hitting $51.34. The stock had a trading volume of 491,581 shares. Genesis Energy, L.P. has a 52-week low of $45.81 and a 52-week high of $57.47. The stock has a 50-day moving average of $54.7 and a 200-day moving average of $54.77. The company has a market cap of $4.553 billion and a P/E ratio of 48.42.
Genesis Energy, L.P. (NYSE:GEL) last announced its earnings results on Thursday, July 31st. The company reported $0.24 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.11. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $0.33 earnings per share. Genesis Energy, L.P.’s revenue was down 5.0% compared to the same quarter last year. On average, analysts predict that Genesis Energy, L.P. will post $1.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a dividend of $0.565 per share. This represents a $2.26 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Wednesday, July 30th. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.55.
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 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Genesis Energy, L.P. presently has a consensus rating of “Hold” and a consensus price target of $56.59.
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.
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