Genesis Energy, L.P. (GEL) Stock Price Up 2.3%
Genesis Energy, L.P. (NYSE:GEL) rose 2.3% on Friday . The company traded as high as $37.14 and last traded at $36.65, with a volume of 290,609 shares. The stock had previously closed at $35.82.
GEL has been the subject of a number of recent research reports. Wunderlich dropped 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 cut shares of Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Wells Fargo & Co. upgraded shares of Genesis Energy, L.P. from a “market perform” rating to an “outperform” rating in a report on Monday, July 18th. Janney Montgomery Scott restated a “buy” rating and set a $44.00 price objective (up previously from $32.00) on shares of Genesis Energy, L.P. in a report on Thursday, June 16th. Finally, Barclays PLC decreased their price objective on shares of Genesis Energy, L.P. from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday, May 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.22.
The firm’s 50-day moving average is $37.64 and its 200-day moving average is $32.87. The company has a market capitalization of $4.26 billion and a P/E ratio of 8.79.
Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.15. The company had revenue of $446 million for the quarter, compared to the consensus estimate of $585.96 million. The business’s revenue was down 32.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, equities analysts expect that Genesis Energy, L.P. will post $1.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a $0.69 dividend. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.67. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date is Wednesday, July 27th.
A hedge fund recently raised its stake in Genesis Energy, L.P. stock. Bank of Montreal Can boosted its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 103.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 280,139 shares of the company’s stock after buying an additional 142,143 shares during the period. Bank of Montreal Can owned about 0.25% of Genesis Energy, L.P. worth $10,293,000 as of its most recent filing with the SEC.
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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