Genesis Energy L.P. (GEL) is Upgraded by Wells Fargo to Outperform

Genesis Energy L.P. (GEL) was Upgraded by Wells Fargo to ” Outperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 18, 2016.

Many Wall Street Analysts have commented on Genesis Energy L.P.. Genesis Energy L.P. was Upgraded by Citigroup to ” Buy” on Jul 1, 2016. Shares were Reiterated by Barclays on May 5, 2016 to “Equal Weight” and Lowered the Price Target to $ 33 from a previous price target of $35 .

On the company’s financial health, Genesis Energy L.P. reported $0.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.35. The company had revenue of $378.40 million for the quarter, compared to analysts expectations of $514.28 million. The company’s revenue was down -28.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

Genesis Energy L.P. closed down -0.21 points or -0.52% at $40.26 with 6,91,604 shares getting traded on Friday. Post opening the session at $40.59, the shares hit an intraday low of $39.8099 and an intraday high of $40.8 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Jul 7, 2016, Genesis Energy L.P. announced a cash dividend of $0.6900. The company’s management has announced Jul 27, 2016 as the ex-dividend date and fixed the record date on Jul 29, 2016. The payable date has been fixed on Aug 12, 2016.

In a different news, on Feb 29, 2016, Jack T Taylor (director) purchased 10,000 shares at $24.77 per share price.

Genesis Energy L.P. (Genesis) is a master limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States and the Gulf of Mexico. The Company operates through five segments: Onshore Pipeline Transportation Offshore Pipeline Transportation Refinery Services Marine Transportation and Supply and Logistics. The Onshore Pipeline Transportation segment is engaged in transporting crude oil and carbon dioxide. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil in the Gulf of Mexico. The Refinery Services segment provides services to refining operations primarily in Texas Louisiana Arkansas Oklahoma and Utah. The Marine Transportation segment provides waterborne transportation of petroleum products and crude oil throughout North America. The Supply and Logistics segment provides supply and logistics services for crude oil and petroleum products and carbon dioxide.

Genesis Energy L.P.

Leave a Reply

Genesis Energy L.P. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Genesis Energy L.P.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.