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Thu, Jan. 7, 7:14 AM
Nov. 3, 2015, 6:35 AM
- Genesis Energy (NYSE:GEL): Q3 EPS of $3.38 may not be comparable to consensus of $0.40.
- Revenue of $572.33M (-40.6% Y/Y) misses by $224.95M.
Nov. 2, 2015, 5:30 PM
- ADM, AFSI, ALE, AMAG, AMSC, ANAC, ANIP, ARIA, AUDC, AXLL, AYR, BLMN, CBM, CDK, CEQP, CIE, CIT, DISCA, DNOW, EMR, EXPD, FI, FIS, FLWS, FSS, FTR, GCAP, GEL, GLDD, GLT, GTN, H, HCP, HRS, HTH, HW, HYH, IART, INCY, K, KMT, LPX, MBLY, MDCO, MHFI, MLM, MMP, MOS, NCLH, NGLS, NI, NMM, NNN, NRZ, NS, [[NTi]], NWN, NXST, NXTM, ODP, OZM, PERI, RDC, RHP, RRGB, SALE, SGNT, SMG, SRE, SSH, SUP, TASR, TGH, TRP, TWI, TZOO, UAM, UNT, VMC, VSH, WLK, WNR, WPC, WPG, ZTS
Oct. 7, 2015, 5:37 PM
- Schlumberger (NYSE:SLB) is out and Frank's International (NYSE:FI) is in, praising FI's “self-help improvements with a good underlying business.” as Credit Suisse analysts update their top energy stock picks in 10 different subsectors.
- Credit Suisse names Devon Energy (NYSE:DVN) as its favorite oil and gas E&P stock, which should ultimately outperform despite near-term oil price risk “given its defensive valuation, top quartile oil growth profile, and further accretion potential from EnLink."
- Top independent refiner is Marathon Petroleum (NYSE:MPC), as the firm believes the synergy of the company’s recently-acquired Hess retail business is exceeding plans, and it is confident MPC will continue to benefit from self-help initiatives.
- Among MLPs, Genesis Energy (NYSE:GEL) is defensive in terms of its direct exposure to commodity price weakness and offensive in terms of the distribution growth expected following its recent acquisition of offshore assets from Enterprise Products Partners.
- Other subsector favorites:MRO, PDCE, EURN, SCTY
Oct. 7, 2015, 12:14 PM
- Energy MLPs have rebounded recently following September's panic selling, but that does not mean there all headwinds facing MLPs going forward have disappeared.
- Wunderlich's Jeff Birnbaum looks at consensus 2016 capex estimates for more than 80 midstream MLPs and thinks many will need to reduce or eliminate their capital spending plans.
- Yet Birnbaum says many MLPs are attractive; his top picks include Magellan Midstream Partners (MMP +1.2%), Enterprise Products Partners (EPD +1.5%), Western Gas Partners (WES +2.1%) and Genesis Energy (GEL +2.2%).
- ETFs: AMLP, AMJ, KYN, MLPL, TYG, SRV, KYE, CEM, MLPI, NML, FEN, NTG, MLPA, KMF, EMLP, FMO, MLPN, SRF, FEI, JMF, CBA, MLPX, GMZ, EMO, MLPS, TTP, CTR, AMU, CEN, GER, AMZA, SMM, MIE, DSE, ENFR, FPL, ATMP, JMLP, MLPW, IMLP
Oct. 7, 2015, 9:09 AM
- Genesis Energy (NYSE:GEL) declares $0.64/share quarterly dividend, 2.4% increase from prior dividend of $0.625.
- Forward yield 5.95%
- Payable Nov. 13; for shareholders of record Oct. 30; ex-div Oct. 28.
Aug. 11, 2015, 11:49 AM
- Eight Credit Suisse analysts each recently picked their top energy stocks to buy in eight different subsectors.
- Alternative energy: SolarCity (NASDAQ:SCTY) is a “key beneficiary” in the trends toward residential solar and lower capital costs.
- Independent refining: Marathon Petroleum's (NYSE:MPC) deal for Hess' retail business is well timed.
- Integrated oil and gas; Marathon Oil's (NYSE:MRO) upstream cash margins “have room to rise as shale production rises and the oil price recovers.
- MLP: Genesis Energy (NYSE:GEL) is defensive in its direct exposure to commodity price weakness and offensive in distribution growth expected following its recent acquisition of offshore assets from Enterprise Products.
- E&P: Devon Energy (NYSE:DVN) has a strong hedge position and strong oil growth relative to peers.
- Oil services and equipment: Schlumberger's (NYSE:SLB) ability to optimize margins and cash flow even in a down market makes the stock attractive.
- Oilfield services and marine transport: Euronav (NYSE:EURN) has flexibility for fleet acquisitions and is free to return 80% of net income to shareholders via dividends.
- Small- to mid-cap E&P: PDC Energy's (NASDAQ:PDCE) three-year projection of up to 40% production growth from Wattenberg even if oil prices remain as low as $50/bbl is impressive.
- Earlier: Credit Suisse lifts view of MLPs, sees 40% upside on revision to mean yield
Aug. 11, 2015, 10:25 AM
- Credit Suisse upgrades the MLP sector to Overweight following the recent sharp selloff, saying reversion to mean yield ranges suggest a total return outlook of more than 40%.
- The firm notes that the overwhelming majority of distributions have been made, and MLPs are tracking to 7.8% Y/Y growth (excluding upstream and coal), above last year and at the high end of its 5%-8% forecast range for this year.
- Credit Suisse says its top picks in the group are Genesis Energy (NYSE:GEL), Tallgrass Energy Partners (NYSE:TEP) and Energy Transfer Equity (NYSE:ETE).
- The firm also says defensive names with low commodity exposure make the most sense going forward and have held up best in the current bear market, including pipeline-oriented MLPs such as Spectra Energy (NYSE:SE) and Kinder Morgan (NYSE:KMI), and the just-upgraded ONEOK Partners (NYSE:OKS) and Magellan Midstream (NYSE:MMP).
- Small cap Midcoast Energy Partners (NYSE:MEP) is vastly oversold, the firm says, noting it has garnered parental support for 2.5 years.
- Also viewed favorably: WES, CNNX, ENLK, EQM, PBFX, PSXP, WNRL, VLP
- ETFs: AMLP, AMJ, KYN, MLPL, YMLP, TYG, SRV, KYE, CEM, MLPI, NML, FEN, NTG, MLPA, KMF, EMLP, FMO, MLPN, SRF, FEI, JMF, CBA, MLPG, MLPX, GMZ, EMO, MLPS, MLPY, TTP, CTR
Jul. 29, 2015, 7:04 AM
- Genesis Energy (NYSE:GEL): Q2 EPS of $0.12 may not be comparable to consensus of $0.31.
- Revenue of $656.32M (-35.7% Y/Y) misses by $51.2M.
Jul. 28, 2015, 5:30 PM
- ACCO, ADT, AMED, AMT, ANTM, APO, AVY, BAH, BDC, BEN, BGCP, BOKF, CARB, CBG, CDK, CFR, CHH, CLF, CRI, DATA, DIN, DORM, DXYN, ESIO, ETN, EVER, EXC, FDML, FLY, GCI, GD, GEL, GIB, GRA, GRMN, GT, GTI, HCBK, HES, HLT, HSIC, HSP, HTA, HUM, HUN, IP, IRT, JAH, JLL, LFUS, LVLT, MA, MDCO, MO, MTH, MTOR, MVIS, NOC, PAG, PCG, PX, Q, RES, ROK, ROL, SAIA, SLAB, SNCR, SO, SONS, SPIL, SPR, SPW, SSE, STNG, STRA, STRZA, TGI, TRI, UBSI, UMC, VNTV, WEC, WEX, WILN, WOOF
Jul. 16, 2015, 7:25 AM
- Genesis Energy (NYSE:GEL) agrees to acquire the offshore pipeline and service business of Enterprise Products Partners (NYSE:EPD) for ~$1.5B.
- The business serves deepwater fields in the Gulf of Mexico, and assets include 2,350 miles of offshore crude oil and natural gas pipelines and six offshore hub platforms.
- GEL says the acquisition should be immediately accretive to cash available for distribution and improve the company's credit metrics over time.
- EPD expects to record ~$100M, or $0.05/unit, in non-cash asset impairment and related charges.
- To help fund the deal, GEL announces public offerings of 9M common units and $750M of senior unsecured notes due 2022 (I, II).
Jul. 13, 2015, 6:57 PM
- U.S. midstream MLPs rallied today following the news that MarkWest Energy (NYSE:MWE) was acquired by MPLX (NYSE:MPLX), as the deal is seen as a validation of the long-term demand potential for U.S. natural gas liquids infrastructure despite current depressed prices.
- Among today's gainers in the group: GEL +3.7%, DPM +3.3%, OKS +2.6%, NGLS +2.5%.
- SunTrust's Tristan Richardson believes the deal is particularly bullish for Enterprise Products Partners (NYSE:EPD), since speaks to the long term potential for the NGL market and the buildout of NGL infrastructure to new sources of market demand, where EPD is a leader with significant organic growth opportunities.
- MPLX fell 14.5% today, as investors worry that adding a nat gas company to MPLX, which had been growing rapidly, could hurt growth and add more volatility to earnings; however, many analysts believe the deal is a safe bet for MPLX because the company is diversifying its sources of income to help it survive the ups and downs of the commodity cycles.
Jul. 7, 2015, 7:44 AM
- Genesis Energy (NYSE:GEL) declares $0.625/share quarterly dividend, 2.5% increase from prior dividend of $0.61.
- Forward yield 5.7%
- Payable Aug. 14; for shareholders of record July 31; ex-div July 29.
May 1, 2015, 11:58 AM
- Genesis Energy (GEL -3.7%) is downgraded to Neutral from Outperform with a $52 price target at Baird, citing GEL's 12% rally since the April 6 secondary on the back of a 14% gain for crude.
- Baird remains convinced of the solid long-term story at GEL and looks for 17% Y/Y EBITDA growth, but sees units approaching full value at current levels.
- The firm also remains skeptical of the recent crude rally on expectations for better than expected supply resiliency over the balance of the year, which it believes would be a headwind for GEL.
Apr. 29, 2015, 7:12 AM
- Genesis Energy (NYSE:GEL): Q1 EPS of $0.21 misses by $0.16.
- Revenue of $526.85M (-48.3% Y/Y) misses by $463.41M.
Apr. 28, 2015, 5:30 PM
- ABB, ACCO, ADT, AME, AMED, ANTM, AVY, BC, BEN, BGCP, BOKF, CBG, CCJ, CFR, CRI, CVE, DHX, DX, DXYN, EDR, ETN, EVER, EXC, FCAU, FCH, FDML, FI, FUN, GD, GEL, GIB, GRMN, GRUB, GT, HCBK, HERO, HES, HLT, HOT, HUM, ICON, IDCC, IP, ISSI, LFUS, LINE, LL, LVLT, MA, MDLZ, MTOR, MWV, NEE, NOC, NSC, NYCB, OCR, PCG, PX, Q, RES, ROL, SAIA, SAVE, SLAB, SLGN, SNCR, SO, SPIL, SPR, SPW, TRI, TWX, UMC, VRX, WEX, WM, WOOF
Genesis Energy LP provides onshore pipeline transportation of crude oil and carbon dioxide, offshore pipeline transportation of crude oil in the Gulf of Mexico, refinery services, marine transportation, and supply and logistics service.
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