Wall Street analysts expect that Genesis Energy, L.P. (NYSE:GEL) will report $624.85 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Genesis Energy’s earnings, with estimates ranging from $592.20 million to $657.50 million. Genesis Energy reported sales of $752.39 million during the same quarter last year, which indicates a negative year over year growth rate of 17%. The company is scheduled to report its next earnings results on Wednesday, August 14th.
On average, analysts expect that Genesis Energy will report full-year sales of $2.71 billion for the current year, with estimates ranging from $2.50 billion to $2.97 billion. For the next financial year, analysts expect that the business will report sales of $2.85 billion, with estimates ranging from $2.67 billion to $3.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Genesis Energy.
Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, May 2nd. The pipeline company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.19). The firm had revenue of $620.00 million for the quarter, compared to the consensus estimate of $719.55 million. Genesis Energy had a return on equity of 5.10% and a net margin of 0.07%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS.
In other news, insider Edward T. Flynn purchased 15,700 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average cost of $21.73 per share, with a total value of $341,161.00. Following the completion of the purchase, the insider now owns 43,916 shares of the company’s stock, valued at approximately $954,294.68. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kenneth M. Jastrow II purchased 50,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were purchased at an average cost of $21.54 per share, for a total transaction of $1,077,000.00. Following the completion of the purchase, the director now directly owns 70,129 shares of the company’s stock, valued at approximately $1,510,578.66. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 69,700 shares of company stock worth $1,502,161. Company insiders own 0.72% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. OppenheimerFunds Inc. boosted its stake in shares of Genesis Energy by 6.7% during the first quarter. OppenheimerFunds Inc. now owns 17,676,730 shares of the pipeline company’s stock valued at $411,868,000 after purchasing an additional 1,108,673 shares in the last quarter. Harvest Fund Advisors LLC boosted its stake in shares of Genesis Energy by 4.8% during the fourth quarter. Harvest Fund Advisors LLC now owns 6,239,022 shares of the pipeline company’s stock valued at $115,235,000 after purchasing an additional 285,839 shares in the last quarter. RR Advisors LLC boosted its stake in shares of Genesis Energy by 25.0% during the first quarter. RR Advisors LLC now owns 3,290,000 shares of the pipeline company’s stock valued at $76,564,000 after purchasing an additional 657,000 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Genesis Energy by 6.1% during the fourth quarter. BlackRock Inc. now owns 1,241,420 shares of the pipeline company’s stock valued at $22,929,000 after purchasing an additional 71,063 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Genesis Energy by 603.4% during the first quarter. Bank of Montreal Can now owns 624,015 shares of the pipeline company’s stock valued at $14,539,000 after purchasing an additional 535,295 shares in the last quarter. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE GEL traded up $0.08 during mid-day trading on Friday, reaching $23.01. The company had a trading volume of 249,991 shares, compared to its average volume of 553,715. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.89 and a current ratio of 1.09. Genesis Energy has a one year low of $17.55 and a one year high of $25.52. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -287.63 and a beta of 1.25. The company has a 50-day moving average price of $22.04.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 9.56%. The ex-dividend date is Tuesday, July 30th. Genesis Energy’s dividend payout ratio is presently -2,750.00%.
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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