Genesis Energy, L.P. Receives “Equal Weight” Rating from Barclays (GEL)
Genesis Energy, L.P. (NYSE:GEL)‘s stock had its “equal weight” rating reaffirmed by Barclays in a research note issued on Monday. They currently have a $56.00 price objective on the stock, down from their previous price objective of $57.00. Barclays’ price target points to a potential upside of 9.08% from the company’s current price.
Genesis Energy, L.P. (NYSE:GEL) traded down 0.06% during mid-day trading on Monday, hitting $51.31. The stock had a trading volume of 10,949 shares. Genesis Energy, L.P. has a one year low of $45.81 and a one year high of $57.47. The stock’s 50-day moving average is $54.7 and its 200-day moving average is $54.77. The company has a market cap of $4.551 billion and a price-to-earnings ratio of 47.36.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down 5.0% on a year-over-year basis. Analysts expect that Genesis Energy, L.P. will post $1.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders 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 positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.55.
GEL has been the subject of a number of other recent research reports. Analysts at Raymond James cut their price target on shares of Genesis Energy, L.P. from $61.00 to $55.00 in a research note on Monday. Separately, analysts at RBC Capital cut their price target on shares of Genesis Energy, L.P. from $63.00 to $61.00 in a research note on Friday. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.59.
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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