Wall Street brokerages forecast that Genesis Energy, L.P. (NYSE:GEL) will post sales of $675.70 million for the current quarter, Zacks reports. Two analysts have provided estimates for Genesis Energy’s earnings, with the lowest sales estimate coming in at $642.10 million and the highest estimate coming in at $709.30 million. Genesis Energy reported sales of $428.05 million during the same quarter last year, which indicates a positive year over year growth rate of 57.9%. The firm is scheduled to report its next earnings results on Thursday, February 15th.
According to Zacks, analysts expect that Genesis Energy will report full year sales of $675.70 million for the current financial year, with estimates ranging from $1.93 billion to $2.02 billion. For the next financial year, analysts expect that the firm will report sales of $2.85 billion per share, with estimates ranging from $2.69 billion to $2.95 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Genesis Energy.
Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. Genesis Energy had a net margin of 5.14% and a return on equity of 5.36%.
Several research analysts have issued reports on GEL shares. Barclays raised shares of Genesis Energy from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $31.00 to $27.00 in a report on Friday, October 13th. Zacks Investment Research cut shares of Genesis Energy from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Royal Bank of Canada decreased their target price on shares of Genesis Energy from $34.00 to $28.00 and set a “sector perform” rating for the company in a report on Friday, October 13th. Robert W. Baird set a $29.00 target price on shares of Genesis Energy and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Janney Montgomery Scott set a $30.00 target price on shares of Genesis Energy and gave the stock a “buy” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.55.
Genesis Energy (NYSE:GEL) opened at $24.73 on Tuesday. Genesis Energy has a 12-month low of $20.43 and a 12-month high of $37.88. The stock has a market cap of $3,030.00, a PE ratio of 35.33 and a beta of 1.15. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.35 and a current ratio of 1.62.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 8.25%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, January 30th. Genesis Energy’s payout ratio is presently 285.71%.
In related news, insider Edward T. Flynn acquired 4,681 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was purchased at an average cost of $21.32 per share, with a total value of $99,798.92. Following the completion of the acquisition, the insider now directly owns 15,691 shares of the company’s stock, valued at $334,532.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ryan S. Sims acquired 4,300 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average cost of $23.25 per share, with a total value of $99,975.00. Following the completion of the acquisition, the vice president now directly owns 4,300 shares of the company’s stock, valued at $99,975. The disclosure for this purchase can be found here. Insiders have bought 257,775 shares of company stock valued at $5,659,913 over the last three months. 0.72% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Genesis Energy by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock valued at $124,000 after purchasing an additional 271 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Genesis Energy by 342.2% during the third quarter. Chicago Partners Investment Group LLC now owns 4,351 shares of the pipeline company’s stock valued at $115,000 after buying an additional 3,367 shares during the period. Advisor Group Inc. grew its position in Genesis Energy by 9.4% during the second quarter. Advisor Group Inc. now owns 5,453 shares of the pipeline company’s stock valued at $173,000 after buying an additional 470 shares during the period. BNP Paribas Arbitrage SA bought a new stake in Genesis Energy during the third quarter valued at approximately $189,000. Finally, Green Square Capital LLC bought a new stake in Genesis Energy during the second quarter valued at approximately $260,000. 74.82% of the stock is owned by hedge funds and other institutional investors.
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About Genesis Energy
Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore 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.
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