Wall Street analysts expect Genesis Energy, L.P. (NYSE:GEL) to announce $713.23 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Genesis Energy’s earnings, with the highest sales estimate coming in at $739.96 million and the lowest estimate coming in at $686.50 million. Genesis Energy posted sales of $415.49 million during the same quarter last year, which suggests a positive year-over-year growth rate of 71.7%. The business is expected to issue its next earnings results on Thursday, May 3rd.
On average, analysts expect that Genesis Energy will report full year sales of $713.23 million for the current year, with estimates ranging from $2.69 billion to $2.92 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.89 billion per share. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Genesis Energy.
Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Genesis Energy had a return on equity of 7.14% and a net margin of 4.07%. The company had revenue of $720.10 million for the quarter, compared to analyst estimates of $644.89 million. During the same period in the previous year, the business posted $0.19 earnings per share. The firm’s revenue was up 68.2% compared to the same quarter last year.
A number of analysts have weighed in on GEL shares. Zacks Investment Research cut Genesis Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. Robert W. Baird set a $27.00 price target on Genesis Energy and gave the company a “buy” rating in a report on Friday, February 16th. Finally, UBS reissued a “buy” rating and issued a $38.00 price target (down from $39.00) on shares of Genesis Energy in a report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $30.71.
In other Genesis Energy news, insider Edward T. Flynn purchased 12,525 shares of Genesis Energy stock in a transaction dated Friday, March 2nd. The stock was acquired at an average cost of $19.96 per share, with a total value of $249,999.00. Following the acquisition, the insider now directly owns 28,216 shares of the company’s stock, valued at $563,191.36. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. OppenheimerFunds Inc. increased its stake in Genesis Energy by 7.3% in the 4th quarter. OppenheimerFunds Inc. now owns 15,839,475 shares of the pipeline company’s stock valued at $354,012,000 after purchasing an additional 1,079,623 shares in the last quarter. Chickasaw Capital Management LLC increased its stake in Genesis Energy by 17.8% in the 4th quarter. Chickasaw Capital Management LLC now owns 10,353,821 shares of the pipeline company’s stock valued at $231,408,000 after purchasing an additional 1,566,206 shares in the last quarter. Clearbridge Investments LLC increased its stake in Genesis Energy by 1.2% in the 4th quarter. Clearbridge Investments LLC now owns 9,868,337 shares of the pipeline company’s stock valued at $220,557,000 after purchasing an additional 112,910 shares in the last quarter. Alps Advisors Inc. increased its stake in Genesis Energy by 2.3% in the 4th quarter. Alps Advisors Inc. now owns 8,915,927 shares of the pipeline company’s stock valued at $199,271,000 after purchasing an additional 202,132 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Genesis Energy by 46.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,202,594 shares of the pipeline company’s stock valued at $57,642,000 after purchasing an additional 695,436 shares in the last quarter. 74.48% of the stock is owned by institutional investors and hedge funds.
Genesis Energy stock traded down $0.33 during mid-day trading on Friday, reaching $19.95. 443,868 shares of the company were exchanged, compared to its average volume of 633,907. Genesis Energy has a twelve month low of $18.42 and a twelve month high of $33.52. The company has a current ratio of 1.39, a quick ratio of 1.20 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $2,444.65, a price-to-earnings ratio of 18.82 and a beta of 1.11.
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Genesis Energy Company Profile
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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