Research Analysts Offer Predictions for Genesis Energy, L.P.’s Q3 2016 Earnings (GEL)
Genesis Energy, L.P. (NYSE:GEL) – Equities researchers at Capital One Financial Corp. issued their Q3 2016 EPS estimates for Genesis Energy, L.P. in a research note issued on Monday. Capital One Financial Corp. analyst C. Marshall forecasts that the firm will post earnings of $0.26 per share for the quarter. Capital One Financial Corp. currently has a “Equal Weight” rating and a $40.00 target price on the stock. Capital One Financial Corp. also issued estimates for Genesis Energy, L.P.’s Q4 2016 earnings at $0.27 EPS, FY2016 earnings at $1.06 EPS, Q1 2017 earnings at $0.29 EPS, Q2 2017 earnings at $0.32 EPS, Q3 2017 earnings at $0.34 EPS, Q4 2017 earnings at $0.35 EPS, FY2017 earnings at $1.30 EPS and FY2018 earnings at $1.55 EPS.
Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.37 by $0.15. The business earned $446 million during the quarter, compared to the consensus estimate of $585.96 million. The firm’s revenue for the quarter was down 32.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 earnings per share.
A number of other research firms have also issued reports on GEL. Wunderlich lowered their target price on 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 lowered Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Wells Fargo & Co. raised Genesis Energy, L.P. from a “market perform” rating to an “outperform” rating in a report on Monday, July 18th. Citigroup Inc. reduced their price target on Genesis Energy, L.P. from $46.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Finally, Credit Suisse Group AG reissued a “neutral” rating on shares of Genesis Energy, L.P. in a report on Monday, August 15th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $41.11.
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Genesis Energy, L.P. (NYSE:GEL) traded up 0.68% on Wednesday, reaching $37.11. The company’s stock had a trading volume of 80,237 shares. Genesis Energy, L.P. has a 52 week low of $19.55 and a 52 week high of $44.00. The firm’s 50 day moving average price is $35.83 and its 200-day moving average price is $35.93. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 9.03 and a beta of 1.09.
Several hedge funds have recently made changes to their positions in GEL. Miller Howard Investments Inc. NY boosted its stake in shares of Genesis Energy, L.P. by 2.2% in the second quarter. Miller Howard Investments Inc. NY now owns 2,233,747 shares of the company’s stock worth $85,709,000 after buying an additional 49,147 shares during the last quarter. Parkwood LLC boosted its stake in shares of Genesis Energy, L.P. by 98.9% in the second quarter. Parkwood LLC now owns 37,954 shares of the company’s stock worth $1,456,000 after buying an additional 18,874 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Genesis Energy, L.P. during the second quarter worth $764,000. MAI Capital Management boosted its stake in shares of Genesis Energy, L.P. by 16.2% in the second quarter. MAI Capital Management now owns 105,227 shares of the company’s stock worth $4,038,000 after buying an additional 14,643 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Genesis Energy, L.P. by 9.4% in the second quarter. Creative Planning now owns 214,167 shares of the company’s stock worth $8,218,000 after buying an additional 18,342 shares during the last quarter.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Friday, October 28th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 7.60%. The ex-dividend date of this dividend is Wednesday, October 26th. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.69.
Genesis Energy, L.P. Company Profile
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.
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