Zacks: Analysts Expect Genesis Energy, L.P. (NYSE:GEL) Will Announce Quarterly Sales of $521.12 Million

Brokerages expect Genesis Energy, L.P. (NYSE:GEL) to post sales of $521.12 million for the current quarter, Zacks reports. Two analysts have made estimates for Genesis Energy, L.P.’s earnings, with the highest sales estimate coming in at $619.54 million and the lowest estimate coming in at $422.70 million. Genesis Energy, L.P. reported sales of $460.05 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The business is expected to announce its next quarterly earnings results on Thursday, November 2nd.

According to Zacks, analysts expect that Genesis Energy, L.P. will report full year sales of $521.12 million for the current financial year, with estimates ranging from $1.90 billion to $2.16 billion. For the next year, analysts anticipate that the firm will post sales of $2.87 billion per share, with estimates ranging from $1.93 billion to $3.65 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Genesis Energy, L.P..

Genesis Energy, L.P. (NYSE:GEL) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. The firm had revenue of $406.72 million for the quarter, compared to analyst estimates of $503.22 million.

A number of equities analysts have recently commented on the company. UBS AG reiterated a “buy” rating and issued a $41.00 price objective (down from $43.00) on shares of Genesis Energy, L.P. in a research note on Friday, May 5th. BidaskClub lowered Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday. Robert W. Baird reiterated a “neutral” rating and issued a $35.00 price objective (down from $37.00) on shares of Genesis Energy, L.P. in a research note on Thursday, July 13th. Credit Suisse Group upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $40.00 to $39.00 in a research note on Monday, May 8th. Finally, Zacks Investment Research upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $37.55.

Genesis Energy, L.P. (NYSE:GEL) opened at 27.70 on Friday. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 28.59 and a beta of 1.20. The stock’s 50 day moving average price is $30.42 and its 200-day moving average price is $32.10. Genesis Energy, L.P. has a 12 month low of $27.64 and a 12 month high of $38.36.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a dividend of $0.723 per share. This represents a $2.89 annualized dividend and a yield of 10.44%. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, July 27th. Genesis Energy, L.P.’s payout ratio is currently 294.90%.

In other news, CFO Robert V. Deere purchased 34,000 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were purchased at an average cost of $30.34 per share, for a total transaction of $1,031,560.00. Following the completion of the purchase, the chief financial officer now directly owns 783,935 shares of the company’s stock, valued at approximately $23,784,587.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

A number of institutional investors have recently modified their holdings of GEL. Cutter & CO Brokerage Inc. raised its position in shares of Genesis Energy, L.P. by 1.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 9,497 shares of the pipeline company’s stock valued at $308,000 after buying an additional 123 shares in the last quarter. Hodges Capital Management Inc. raised its position in shares of Genesis Energy, L.P. by 1.9% in the second quarter. Hodges Capital Management Inc. now owns 10,500 shares of the pipeline company’s stock valued at $333,000 after buying an additional 200 shares in the last quarter. M&T Bank Corp raised its position in shares of Genesis Energy, L.P. by 0.7% in the second quarter. M&T Bank Corp now owns 33,435 shares of the pipeline company’s stock valued at $1,060,000 after buying an additional 245 shares in the last quarter. Blair William & Co. IL raised its position in shares of Genesis Energy, L.P. by 0.3% in the first quarter. Blair William & Co. IL now owns 93,471 shares of the pipeline company’s stock valued at $3,163,000 after buying an additional 260 shares in the last quarter. Finally, LVW Advisors LLC raised its position in shares of Genesis Energy, L.P. by 1.4% in the first quarter. LVW Advisors LLC now owns 21,491 shares of the pipeline company’s stock valued at $697,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 73.99% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://www.com-unik.info/2017/08/12/zacks-analysts-expect-genesis-energy-l-p-nysegel-will-announce-quarterly-sales-of-521-12-million.html.

Genesis Energy, L.P. 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.

Get a free copy of the Zacks research report on Genesis Energy, L.P. (GEL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Genesis Energy L.P.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Genesis Energy L.P. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit