Equities analysts expect Genesis Energy, L.P. (NYSE:GEL) to post $0.21 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Genesis Energy, L.P.’s earnings, with estimates ranging from $0.19 to $0.24. Genesis Energy, L.P. reported earnings per share of $0.28 in the same quarter last year, which would suggest a negative year over year growth rate of 25%. The company is expected to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Genesis Energy, L.P. will report full year earnings of $0.96 per share for the current financial year, with EPS estimates ranging from $0.92 to $1.02. For the next year, analysts anticipate that the firm will report earnings of $1.26 per share, with EPS estimates ranging from $0.83 to $1.56. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Genesis Energy, L.P..
Genesis Energy, L.P. (NYSE:GEL) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. The business had revenue of $406.72 million during the quarter, compared to analyst estimates of $503.22 million. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%.
A number of analysts have issued reports on GEL shares. Credit Suisse Group raised Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $40.00 to $39.00 in a research note on Monday, May 8th. Zacks Investment Research upgraded Genesis Energy, L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 9th. BidaskClub upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Barclays PLC cut Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $33.00 to $31.00 in a report on Tuesday, July 18th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $35.00 target price (down previously from $37.00) on shares of Genesis Energy, L.P. in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Genesis Energy, L.P. currently has a consensus rating of “Hold” and an average target price of $37.55.
Shares of Genesis Energy, L.P. (NYSE GEL) traded up 0.14% during mid-day trading on Thursday, reaching $28.27. The company’s stock had a trading volume of 298,587 shares. The stock has a market capitalization of $3.47 billion, a P/E ratio of 29.17 and a beta of 1.20. Genesis Energy, L.P. has a 12-month low of $27.91 and a 12-month high of $38.36. The company’s 50-day moving average price is $30.45 and its 200-day moving average price is $32.19.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be issued a dividend of $0.723 per share. The ex-dividend date is Thursday, July 27th. This represents a $2.89 dividend on an annualized basis and a yield of 10.24%. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. Genesis Energy, L.P.’s payout ratio is presently 294.90%.
In other Genesis Energy, L.P. news, CFO Robert V. Deere acquired 34,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was bought at an average price of $30.34 per share, for a total transaction of $1,031,560.00. Following the acquisition, the chief financial officer now directly owns 783,935 shares in the company, valued at $23,784,587.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. boosted its position in Genesis Energy, L.P. by 38.3% in the first quarter. OppenheimerFunds Inc. now owns 14,212,229 shares of the pipeline company’s stock worth $460,760,000 after buying an additional 3,932,520 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in Genesis Energy, L.P. by 12.1% in the first quarter. Chickasaw Capital Management LLC now owns 7,949,526 shares of the pipeline company’s stock worth $257,724,000 after buying an additional 857,082 shares during the last quarter. Alps Advisors Inc. boosted its position in Genesis Energy, L.P. by 8.2% in the second quarter. Alps Advisors Inc. now owns 7,832,361 shares of the pipeline company’s stock worth $248,521,000 after buying an additional 594,859 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in Genesis Energy, L.P. by 4.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock worth $327,222,000 after buying an additional 431,059 shares during the last quarter. Finally, Cannell Peter B & Co. Inc. boosted its position in Genesis Energy, L.P. by 74.5% in the second quarter. Cannell Peter B & Co. Inc. now owns 775,690 shares of the pipeline company’s stock worth $24,613,000 after buying an additional 331,225 shares during the last quarter. Institutional investors own 73.99% of the company’s stock.
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About Genesis Energy, L.P.
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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