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GEL

Genesis Energy

$24.25

-0.52 (-2.10%)

06:03
08/29/18
08/29
06:03
08/29/18
06:03

Genesis Energy to sell Powder River Basin Midstream Assets for $200M

Genesis Energy, L.P. Enters Into Agreement to Sell Powder River Basin Midstream Assets and Amends Genesis Energy has signed a definitive agreement to sell its Powder River Basin Midstream Assets, and an affiliate of Silver Creek Midstream has exercised its option to acquire it for approximately $300M in net cash proceeds. Proceeds from the sale will be used by Genesis to reduce the balance outstanding under its revolving credit facility. In conjunction with the transaction, Genesis executed an amendment to its existing revolving credit facility, which among other things, sets the bank leverage ratio to 5.50x throughout the remaining term of the facility, currently May 8th 2022. The sale is subject to customary closing conditions, including obtaining regulatory approvals. The transaction is expected to close in Q3.

GEL Genesis Energy
$24.25

-0.52 (-2.10%)

10/13/17
LEHM
10/13/17
UPGRADE
Target $27
LEHM
Equal Weight
Genesis Energy upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Theresa Chen upgraded Genesis Energy to Equal Weight saying the 31% distribution cut is a "logical move" that puts the partnership on better footing to de-lever and grow the business. The analyst lowered her price target for the shares to $27 from $31.
10/13/17
MUFG
10/13/17
NO CHANGE
Target $29
MUFG
Neutral
Genesis Energy price target lowered to $29 from $35 at MUFG
MUFG analyst Barrett Blaschke lowered his price target for Genesis Energy to $29 after the partnership announced a reduction in its distribution rate. The analyst believes the move puts Genesis Energy on "firmer financial footing" and keeps a Neutral rating on the shares.
10/13/17
JANY
10/13/17
NO CHANGE
Target $30
JANY
Buy
Genesis Energy price target lowered to $30 from $37 at Janney Capital
After Genesis Energy announced a 31% distribution cut, Janney Capital analyst Akil Marsh said he will now be more conservative in his assumptions regarding EBITDA projections and he lowered his fair value estimate on the shares to $30 from $37. Noting that Genesis management said the distribution cut will allow for faster lowering of debt levels and opportunistic deployment of excess capital, Marsh thinks additional color on capital deployment may serve as a catalysts for the units. He keeps a Buy rating on Genesis Energy.
10/13/17
10/13/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Motors (GM) upgraded to Overweight from Equal Weight at Barclays with analyst Brian Johnson saying GM is set to recoup lost market capitalization from Tesla (TSLA). 2. Entergy (ETR) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying new management's fundamental changes will yield better operations and results. 3. Saratoga Investment (SAR) upgraded to Buy from Neutral at Compass Point. 4. Ethan Allen (ETH) upgraded to Buy from Neutral at Dougherty with analyst Jeremy Hamblin saying that orders from the U.S. State Department create tailwinds for fiscal 2018 and beyond and that recovery efforts following the recent natural disasters could create a pickup in orders. 5. Genesis Energy (GEL) upgraded to Equal Weight from Underweight at Barclays with analyst Theresa Chen saying the 31% distribution cut is a "logical move" that puts the partnership on better footing to de-lever and grow the business. The analyst lowered her price target for the shares to $27 from $31. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

04:55
04/20/19
04/20
04:55
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04:55
Conference/Events
MSC Industrial management to meet with William Blair »

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KFS

Kingsway Financial

$2.30

-0.14 (-5.74%)

19:48
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Kingsway Financial announces receipt of notification letter from NYSE »

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AWK

American Water

$104.63

2.32 (2.27%)

19:46
04/19/19
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Hot Stocks
American Water signs contract to acquire East Pasadena Water Company »

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FSNN

Fusion

$0.24

0.0048 (2.01%)

19:45
04/19/19
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Hot Stocks
Fusion sees being delisted following receipt of Nasdaq delisting notice »

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PSA

Public Storage

$217.43

0.81 (0.37%)

19:42
04/19/19
04/19
19:42
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Hot Stocks
Public Storage announces change of Chief Legal Officer »

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V

Visa

$160.14

-0.33 (-0.21%)

19:40
04/19/19
04/19
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Hot Stocks
Visa board elects Visa CEO Al Kelly as Chair »

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NAVB

Navidea

$0.17

0.0001 (0.06%)

19:39
04/19/19
04/19
19:39
04/19/19
19:39
Hot Stocks
Navidea announces one-for-twenty reverse stock split »

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TISA

Top Image Systems

$0.84

-0.0069 (-0.81%)

19:37
04/19/19
04/19
19:37
04/19/19
19:37
Hot Stocks
Top Image sees voluntarily delisting to be complete before Nasdaq deadline »

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FCPT

Four Corners Property Trust

$28.17

0.49 (1.77%)

19:33
04/19/19
04/19
19:33
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19:33
Hot Stocks
Four Corners Property Trust acquires restaurant properties for $2.6M »

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  • 24

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PRK

Park National

$93.98

-2.72 (-2.81%)

19:32
04/19/19
04/19
19:32
04/19/19
19:32
Earnings
Park National reports Q1 EPS $1.62, two estimates $1.61 »

Commercial loans grew…

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  • 22

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STNE

StoneCo

$26.50

-8.25 (-23.74%)

19:29
04/19/19
04/19
19:29
04/19/19
19:29
Hot Stocks
StoneCo says latest incentive offers from competitors don't change strategy »

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  • 11

    Jun

GPIC

Gaming Partners

$13.09

(0.00%)

19:24
04/19/19
04/19
19:24
04/19/19
19:24
Hot Stocks
Gaming Partners sees acquisition by Angel closing on May 1 »

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

17:04
04/19/19
04/19
17:04
04/19/19
17:04
Conference/Events
Charles Schwab to hold a webcast »

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12:45
04/19/19
04/19
12:45
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12:45
General news
Breaking General news story  »

Week of 4/19 Baker-Hughes…

MMNFF

MedMen

$0.00

(0.00%)

11:13
04/19/19
04/19
11:13
04/19/19
11:13
Hot Stocks
MedMen announces resignations of COO and General Counsel »

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

11:08
04/19/19
04/19
11:08
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11:08
Hot Stocks
Turkcell sees conclusion of $4.2B lawsuit against MTN this year »

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
04/19/19
04/19
11:05
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11:05
Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
04/19/19
04/19
11:03
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11:03
Hot Stocks
Qumu announces death of director Thomas Madison »

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FAT

Fat Brands

$5.15

0.065 (1.28%)

10:54
04/19/19
04/19
10:54
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Hot Stocks
Fat Brands announces development of Fatburger concept in Albuquerque »

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HRTG

Heritage Insurance

$14.32

0.25 (1.78%)

10:52
04/19/19
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Hot Stocks
Heritage Insurance announces preliminary Q1 catastrophe losses of $15.4M »

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COTY

Coty

$11.27

0.02 (0.18%)

10:48
04/19/19
04/19
10:48
04/19/19
10:48
Hot Stocks
Coty notes extension of tender offer by affiliate of JAB Holding Company »

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NTES

NetEase

$265.88

-2.34 (-0.87%)

10:45
04/19/19
04/19
10:45
04/19/19
10:45
Hot Stocks
NetEase announces music license agreement with Nippon Columbia »

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09:10
04/19/19
04/19
09:10
04/19/19
09:10
General news
Today's U.S. housing report revealed March declines »

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08:45
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08:45
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General news
U.S. housing starts fell 0.3% to 1.139 M in March »

U.S. housing starts fell…

08:15
04/19/19
04/19
08:15
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General news
Housing Starts to be reported at 08:30 »

March Housing Starts will…

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