Genesis Energy, L.P. (NYSE:GEL) is scheduled to release its earnings data after the market closes on Wednesday, November 1st.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly 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 for the quarter, compared to analyst estimates of $503.22 million. Genesis Energy, L.P. had a net margin of 6.73% and a return on equity of 5.32%. On average, analysts expect Genesis Energy, L.P. to post $0.93 EPS for the current fiscal year and $1.22 EPS for the next fiscal year.
Shares of Genesis Energy, L.P. (NYSE GEL) opened at 24.00 on Monday. Genesis Energy, L.P. has a 52-week low of $22.71 and a 52-week high of $37.88. The company’s 50 day moving average is $25.70 and its 200 day moving average is $28.96. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 24.77 and a beta of 1.20.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 8.33%. The ex-dividend date is Monday, October 30th. Genesis Energy, L.P.’s dividend payout ratio (DPR) is presently 294.90%.
A number of analysts recently weighed in on GEL shares. BidaskClub raised shares of Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Zacks Investment Research raised shares of Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $35.00 target price (down previously from $37.00) on shares of Genesis Energy, L.P. in a report on Thursday, July 13th. Barclays PLC lowered shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $33.00 to $31.00 in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $34.00 target price on shares of Genesis Energy, L.P. in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $34.92.
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In other Genesis Energy, L.P. news, Director Kenneth M. Jastrow II acquired 27,196 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was bought at an average price of $26.74 per share, with a total value of $727,221.04. Following the purchase, the director now owns 9,397 shares of the company’s stock, valued at $251,275.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth M. Jastrow II acquired 7,804 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $27.25 per share, with a total value of $212,659.00. Following the purchase, the director now directly owns 35,000 shares in the company, valued at approximately $953,750. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.
An institutional investor recently raised its position in Genesis Energy, L.P. stock. The Manufacturers Life Insurance Company increased its holdings in Genesis Energy, L.P. (NYSE:GEL) by 7.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,897 shares of the pipeline company’s stock after purchasing an additional 271 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Genesis Energy, L.P. were worth $124,000 as of its most recent SEC filing. Institutional investors and hedge funds own 74.88% of the company’s stock.
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.
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