UBS maintains a 'Buy' on Genesis Energy LP (GEL); Raising PT on Good Visibility

UBS maintains a 'Buy' on Genesis Energy LP (NYSE: GEL) price target raised from $28 to $33.

UBS analyst says, "GEL reported 4Q11 EPS of $0.10 (UBSe $0.32/Cons $0.30) and adjusted EBITDA of $45.3 MM (UBSe $46.4 MM, Cons $45.3 MM). However, all segments were up sharply YOY, with Supply & Logistics up 56%, Pipeline Transportation up 41% and Refinery Services up 19%."

The analyst feels that the recent acquisition in interests in the Gulf of Mexico will enhance GEL's ability to provide capacity and optionality to both producers and refineries. The UBS analyst also projects continued strong distribution growth, and are increasing our 2013-16 projections to reflect recent $0.01/quarter distribution increases (~8% growth/yr).

For an analyst ratings summary and ratings history on Genesis Energy LP click here. For more ratings news on Genesis Energy LP click here.

Shares of Genesis Energy LP closed at $30.15 yesterday.

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