Capital One Financial Corp. Initiates Coverage on Genesis Energy, L.P. (GEL)
Stock analysts at Capital One Financial Corp. started coverage on shares of Genesis Energy, L.P. (NYSE:GEL) in a research report issued to clients and investors on Monday. The firm set an “equal weight” rating and a $40.00 price target on the stock. Capital One Financial Corp.’s price target points to a potential upside of 10.74% from the company’s previous close.
Several other research firms also recently weighed in on GEL. Wunderlich lowered their price target on shares of Genesis Energy, L.P. from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. Zacks Investment Research downgraded shares of Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Wells Fargo & Co. raised shares of Genesis Energy, L.P. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 18th. Citigroup Inc. lowered their price target on shares of Genesis Energy, L.P. from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. Finally, Credit Suisse Group AG reissued a “neutral” rating on shares of Genesis Energy, L.P. in a research note on Monday, August 15th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Genesis Energy, L.P. presently has an average rating of “Buy” and a consensus target price of $41.11.
Shares of Genesis Energy, L.P. (NYSE:GEL) traded up 0.08% during mid-day trading on Monday, hitting $36.15. The stock had a trading volume of 29,958 shares. The stock’s 50-day moving average is $35.83 and its 200 day moving average is $35.78. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 8.80 and a beta of 1.09. Genesis Energy, L.P. has a 1-year low of $19.55 and a 1-year high of $44.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/capital-one-financial-corp-initiates-coverage-on-genesis-energy-l-p-gel.html
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.15. The business had revenue of $446 million for the quarter, compared to analyst estimates of $585.96 million. The firm’s revenue was down 32.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. Equities research analysts predict that Genesis Energy, L.P. will post $1.30 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 28th will be paid a $0.70 dividend. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date is Wednesday, October 26th.
A number of institutional investors have recently added to or reduced their stakes in GEL. M&T Bank Corp increased its position in Genesis Energy, L.P. by 3.3% in the first quarter. M&T Bank Corp now owns 29,794 shares of the company’s stock worth $947,000 after buying an additional 963 shares during the last quarter. Cypress Wealth Advisors LLC increased its position in Genesis Energy, L.P. by 7.5% in the first quarter. Cypress Wealth Advisors LLC now owns 33,175 shares of the company’s stock worth $1,055,000 after buying an additional 2,310 shares during the last quarter. Rafferty Asset Management LLC bought a new position in Genesis Energy, L.P. during the first quarter worth about $2,086,000. Uniplan Investment Counsel Inc. bought a new position in Genesis Energy, L.P. during the first quarter worth about $2,420,000. Finally, Mariner Wealth Advisors LLC bought a new position in Genesis Energy, L.P. during the first quarter worth about $528,000.
About Genesis Energy, L.P.
Genesis Energy, L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through five segments: Offshore Pipeline Transportation, Onshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.
Receive News & Ratings for Genesis Energy L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesis Energy L.P. and related companies with MarketBeat.com's FREE daily email newsletter.