Analysts expect that Genesis Energy, L.P. (NYSE:GEL) will announce sales of $762.44 million for the current quarter, Zacks reports. Three analysts have provided estimates for Genesis Energy’s earnings, with estimates ranging from $707.20 million to $802.23 million. Genesis Energy reported sales of $486.11 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 56.8%. The company is scheduled to report its next earnings report on Friday, November 2nd.

According to Zacks, analysts expect that Genesis Energy will report full-year sales of $2.96 billion for the current fiscal year, with estimates ranging from $2.89 billion to $3.06 billion. For the next year, analysts anticipate that the firm will post sales of $3.03 billion, with estimates ranging from $2.85 billion to $3.22 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Genesis Energy.

Genesis Energy (NYSE:GEL) last released its earnings results on Wednesday, August 8th. The pipeline company reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.22). The company had revenue of $752.39 million for the quarter, compared to the consensus estimate of $729.72 million. Genesis Energy had a net margin of 1.52% and a return on equity of 7.32%. The business’s revenue for the quarter was up 85.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS.

GEL has been the topic of several analyst reports. UBS Group boosted their target price on Genesis Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Robert W. Baird downgraded Genesis Energy from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research report on Tuesday, September 4th. Raymond James reissued a “buy” rating on shares of Genesis Energy in a research report on Monday, August 13th. Zacks Investment Research downgraded Genesis Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, August 10th. Finally, ValuEngine raised Genesis Energy from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $28.67.

In other Genesis Energy news, VP Garland G. Gaspard acquired 1,247 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were bought at an average price of $24.07 per share, with a total value of $30,015.29. Following the transaction, the vice president now directly owns 1,247 shares of the company’s stock, valued at approximately $30,015.29. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Baldwin Brothers Inc. MA bought a new position in Genesis Energy in the 2nd quarter valued at $193,000. GWM Advisors LLC bought a new position in Genesis Energy in the 2nd quarter valued at $212,000. Summit Trail Advisors LLC grew its position in Genesis Energy by 1,717.8% in the 1st quarter. Summit Trail Advisors LLC now owns 215,952 shares of the pipeline company’s stock valued at $216,000 after acquiring an additional 204,072 shares during the last quarter. Horrell Capital Management Inc. bought a new position in Genesis Energy in the 2nd quarter valued at $219,000. Finally, Steward Partners Investment Advisory LLC grew its position in Genesis Energy by 380.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 11,825 shares of the pipeline company’s stock valued at $259,000 after acquiring an additional 9,366 shares during the last quarter. 73.96% of the stock is currently owned by institutional investors.

Shares of NYSE GEL traded up $0.10 during trading hours on Monday, hitting $24.42. 655,326 shares of the company traded hands, compared to its average volume of 643,392. The company has a market cap of $2.91 billion, a P/E ratio of 23.04 and a beta of 1.24. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.26 and a current ratio of 1.50. Genesis Energy has a 12 month low of $18.42 and a 12 month high of $25.87.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 8.85%. The ex-dividend date of this dividend is Tuesday, October 30th. This is an increase from Genesis Energy’s previous quarterly dividend of $0.53. Genesis Energy’s dividend payout ratio is 200.00%.

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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Earnings History and Estimates for Genesis Energy (NYSE:GEL)

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