Genesis Energy, L.P. (GEL) Stock Price Up 2.3%
Genesis Energy, L.P. (NYSE:GEL)’s share price rose 2.3% during mid-day trading on Friday . The stock traded as high as $37.14 and last traded at $36.65, with a volume of 290,609 shares trading hands. The stock had previously closed at $35.82.
GEL has been the topic of several analyst reports. Zacks Investment Research upgraded Genesis Energy, L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 20th. Barclays PLC cut their target price on Genesis Energy, L.P. from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 5th. Janney Montgomery Scott reiterated a “buy” rating and issued a $44.00 target price (up previously from $32.00) on shares of Genesis Energy, L.P. in a research note on Thursday, June 16th. TheStreet upgraded Genesis Energy, L.P. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 14th. Finally, Citigroup Inc. upgraded Genesis Energy, L.P. from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $48.00 to $46.00 in a research note on Friday, July 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Genesis Energy, L.P. has an average rating of “Buy” and a consensus target price of $42.22.
The stock has a market capitalization of $4.26 billion and a PE ratio of 8.79. The company has a 50 day moving average price of $37.58 and a 200-day moving average price of $32.93.
Genesis Energy, L.P. (NYSE:GEL) last posted its earnings results on Wednesday, August 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.15. During the same quarter last year, the firm posted $0.12 earnings per share. The company earned $446 million during the quarter, compared to analysts’ expectations of $585.96 million. The company’s quarterly revenue was down 32.0% compared to the same quarter last year. On average, analysts expect that Genesis Energy, L.P. will post $1.30 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 7.64%. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.67. The ex-dividend date was Wednesday, July 27th.
A hedge fund recently raised its stake in Genesis Energy, L.P. stock. Chickasaw Capital Management LLC increased its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,780,473 shares of the company’s stock after buying an additional 516,519 shares during the period. Genesis Energy, L.P. accounts for approximately 6.0% of Chickasaw Capital Management LLC’s holdings, making the stock its 4th largest position. Chickasaw Capital Management LLC owned 4.35% of Genesis Energy, L.P. worth $175,635,000 at the end of the most recent reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.