Brokerages expect Genesis Energy, L.P. (NYSE:GEL) to post $624.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Genesis Energy’s earnings. The highest sales estimate is $657.50 million and the lowest is $592.20 million. Genesis Energy reported sales of $752.39 million during the same quarter last year, which would suggest a negative year over year growth rate of 17%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, August 6th.
According to Zacks, analysts expect that Genesis Energy will report full-year sales of $2.71 billion for the current financial year, with estimates ranging from $2.50 billion to $2.97 billion. For the next year, analysts expect that the company will post sales of $2.85 billion, with estimates ranging from $2.67 billion to $3.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Genesis Energy.
Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 2nd. The pipeline company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.19). The business had revenue of $620.00 million during the quarter, compared to the consensus estimate of $719.55 million. Genesis Energy had a net margin of 0.07% and a return on equity of 5.10%. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS.
Shares of Genesis Energy stock opened at $22.85 on Monday. The company has a 50-day simple moving average of $22.47. The company has a market capitalization of $2.90 billion, a PE ratio of 181.77 and a beta of 1.25. Genesis Energy has a 52-week low of $17.55 and a 52-week high of $25.52. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.09.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 9.63%. The ex-dividend date is Tuesday, July 30th. Genesis Energy’s dividend payout ratio (DPR) is presently -2,750.00%.
In related news, Director Kenneth M. Jastrow II purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $21.54 per share, with a total value of $1,077,000.00. Following the completion of the purchase, the director now directly owns 70,129 shares in the company, valued at $1,510,578.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward T. Flynn purchased 15,700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $21.73 per share, with a total value of $341,161.00. Following the purchase, the insider now owns 43,916 shares of the company’s stock, valued at $954,294.68. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 69,700 shares of company stock valued at $1,502,161. 0.72% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of GEL. OppenheimerFunds Inc. raised its stake in Genesis Energy by 6.7% during the first quarter. OppenheimerFunds Inc. now owns 17,676,730 shares of the pipeline company’s stock worth $411,868,000 after acquiring an additional 1,108,673 shares in the last quarter. RR Advisors LLC raised its stake in Genesis Energy by 25.0% during the first quarter. RR Advisors LLC now owns 3,290,000 shares of the pipeline company’s stock worth $76,564,000 after acquiring an additional 657,000 shares in the last quarter. BlackRock Inc. raised its stake in Genesis Energy by 6.1% during the fourth quarter. BlackRock Inc. now owns 1,241,420 shares of the pipeline company’s stock worth $22,929,000 after acquiring an additional 71,063 shares in the last quarter. Bank of Montreal Can raised its stake in Genesis Energy by 603.4% during the first quarter. Bank of Montreal Can now owns 624,015 shares of the pipeline company’s stock worth $14,539,000 after acquiring an additional 535,295 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Genesis Energy by 27.6% during the fourth quarter. Deutsche Bank AG now owns 467,997 shares of the pipeline company’s stock worth $8,643,000 after acquiring an additional 101,104 shares in the last quarter. 74.32% of the stock is owned by institutional investors and hedge funds.
About Genesis Energy
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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