Equities research analysts forecast that Genesis Energy, L.P. (NYSE:GEL) will report earnings of $0.22 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Genesis Energy’s earnings, with estimates ranging from $0.11 to $0.32. Genesis Energy reported earnings of ($0.15) per share in the same quarter last year, which suggests a positive year over year growth rate of 246.7%. The business is scheduled to announce its next earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Genesis Energy will report full year earnings of $0.64 per share for the current fiscal year, with EPS estimates ranging from $0.48 to $0.79. For the next financial year, analysts forecast that the business will report earnings of $1.12 per share, with EPS estimates ranging from $0.99 to $1.25. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Genesis Energy.
Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $634.80 million for the quarter, compared to analyst estimates of $685.95 million. Genesis Energy had a return on equity of 7.09% and a net margin of 1.15%. The firm’s revenue for the quarter was down 15.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) earnings per share.
Shares of Genesis Energy stock traded up $0.17 during trading on Friday, reaching $21.74. The company’s stock had a trading volume of 7,640 shares, compared to its average volume of 933,262. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.00 and a current ratio of 1.24. The business’s fifty day moving average price is $21.43 and its 200-day moving average price is $22.06. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -271.75 and a beta of 1.26. Genesis Energy has a one year low of $17.55 and a one year high of $25.40.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 10.12%. The ex-dividend date is Wednesday, October 30th. Genesis Energy’s dividend payout ratio (DPR) is presently -2,750.00%.
In other news, insider Edward T. Flynn bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $20.12 per share, with a total value of $100,600.00. Following the completion of the transaction, the insider now directly owns 48,916 shares in the company, valued at $984,189.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ryan S. Sims bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $19.94 per share, for a total transaction of $59,820.00. Following the completion of the transaction, the vice president now owns 11,300 shares of the company’s stock, valued at $225,322. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 13,000 shares of company stock worth $260,270. 0.72% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in Genesis Energy by 113,645.7% during the second quarter. Invesco Ltd. now owns 17,975,234 shares of the pipeline company’s stock worth $393,657,000 after buying an additional 17,959,431 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Genesis Energy by 6.7% during the first quarter. OppenheimerFunds Inc. now owns 17,676,730 shares of the pipeline company’s stock valued at $411,868,000 after purchasing an additional 1,108,673 shares during the period. RR Advisors LLC boosted its stake in shares of Genesis Energy by 25.0% during the first quarter. RR Advisors LLC now owns 3,290,000 shares of the pipeline company’s stock valued at $76,564,000 after purchasing an additional 657,000 shares during the period. Bank of Montreal Can boosted its stake in shares of Genesis Energy by 138.5% during the second quarter. Bank of Montreal Can now owns 1,488,421 shares of the pipeline company’s stock valued at $32,596,000 after purchasing an additional 864,406 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Genesis Energy by 12.3% during the second quarter. BlackRock Inc. now owns 1,488,041 shares of the pipeline company’s stock valued at $32,587,000 after purchasing an additional 163,141 shares during the period. 71.86% of the stock is currently owned by institutional investors and hedge funds.
Genesis Energy Company Profile
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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