Genesis Energy, L.P. (GEL) Now Covered by Analysts at Capital One Financial Corp.

Capital One Financial Corp. initiated coverage on shares of Genesis Energy, L.P. (NYSE:GEL) in a report released on Monday morning. The brokerage issued an equal weight rating and a $40.00 price objective on the stock.

Other research analysts have also issued reports about the stock. Citigroup Inc. decreased 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. Wunderlich cut their price objective on shares of Genesis Energy, L.P. from $41.00 to $39.00 and set a buy rating on the stock in a research report on Thursday, August 4th. Zacks Investment Research raised shares of Genesis Energy, L.P. from a hold rating to a buy rating and set a $43.00 price objective on the stock in a research report on Tuesday, July 5th. Barclays PLC increased their price objective on shares of Genesis Energy, L.P. from $33.00 to $36.00 and gave the company an equal weight rating in a research report on Wednesday, August 10th. Finally, Credit Suisse Group AG reissued a neutral rating on shares of Genesis Energy, L.P. in a research report on Monday, August 15th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $41.11.

Shares of Genesis Energy, L.P. (NYSE:GEL) traded up 0.19% during mid-day trading on Monday, reaching $36.53. 33,485 shares of the company’s stock traded hands. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 8.89 and a beta of 1.09. Genesis Energy, L.P. has a 12-month low of $19.55 and a 12-month high of $44.00. The firm’s 50 day moving average price is $35.83 and its 200-day moving average price is $35.89.

Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly 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. The company had revenue of $446 million for the quarter, compared to the consensus estimate of $585.96 million. Genesis Energy, L.P.’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. Equities research analysts forecast that Genesis Energy, L.P. will post $1.30 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Friday, October 28th will be issued a $0.70 dividend. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.69. The ex-dividend date is Wednesday, October 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.68%.

Several institutional investors have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. boosted its stake in Genesis Energy, L.P. by 11.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,420,244 shares of the company’s stock worth $323,085,000 after buying an additional 864,257 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in Genesis Energy, L.P. by 13.3% in the second quarter. Chickasaw Capital Management LLC now owns 6,288,895 shares of the company’s stock worth $241,305,000 after buying an additional 737,171 shares during the last quarter. Atlantic Trust Group LLC boosted its stake in Genesis Energy, L.P. by 24.8% in the second quarter. Atlantic Trust Group LLC now owns 2,249,244 shares of the company’s stock worth $86,303,000 after buying an additional 446,467 shares during the last quarter. Taylor Wealth Management Partners boosted its stake in Genesis Energy, L.P. by 57,745.0% in the second quarter. Taylor Wealth Management Partners now owns 173,535 shares of the company’s stock worth $6,659,000 after buying an additional 173,235 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Genesis Energy, L.P. by 9.1% in the second quarter. JPMorgan Chase & Co. now owns 2,012,350 shares of the company’s stock worth $77,214,000 after buying an additional 167,348 shares during the last quarter.

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.

5 Day Chart for NYSE:GEL

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