Genesis Energy, L.P. (GEL) Expected to Announce Quarterly Sales of $531.19 Million
Equities analysts expect Genesis Energy, L.P. (NYSE:GEL) to report sales of $531.19 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 $608.47 million and the lowest estimate coming in at $453.90 million. Genesis Energy, L.P. posted sales of $460.05 million in the same quarter last year, which suggests a positive year over year growth rate of 15.5%. The company is expected to issue its next earnings report on Thursday, November 2nd.
On average, analysts expect that Genesis Energy, L.P. will report full-year sales of $531.19 million for the current year, with estimates ranging from $1.62 billion to $2.13 billion. For the next financial year, analysts anticipate that the business will post sales of $2.77 billion per share, with estimates ranging from $1.71 billion to $3.63 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Genesis Energy, L.P..
Genesis Energy, L.P. (NYSE:GEL) last released its earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $406.72 million for the quarter, compared to the consensus estimate of $503.22 million.
A number of research analysts have recently issued reports on GEL shares. Barclays PLC downgraded Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $33.00 to $31.00 in a report on Tuesday, July 18th. BidaskClub upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Zacks Investment Research upgraded Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, July 12th. Royal Bank Of Canada cut their price target on Genesis Energy, L.P. from $34.00 to $28.00 and set a “sector perform” rating on the stock in a report on Friday, October 13th. Finally, Janney Montgomery Scott set a $30.00 price target on Genesis Energy, L.P. and gave the company a “buy” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $34.92.
Shares of Genesis Energy, L.P. (GEL) opened at 23.54 on Wednesday. Genesis Energy, L.P. has a 12-month low of $23.43 and a 12-month high of $37.88. The firm has a 50-day moving average price of $25.98 and a 200 day moving average price of $29.11. The company has a market capitalization of $2.89 billion, a P/E ratio of 24.29 and a beta of 1.20.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a $0.50 dividend. The ex-dividend date is Monday, October 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.50%. Genesis Energy, L.P.’s payout ratio is 294.90%.
In other Genesis Energy, L.P. news, Director Kenneth M. Jastrow II acquired 7,804 shares of the stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price of $27.25 per share, with a total value of $212,659.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $953,750. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth M. Jastrow II acquired 27,196 shares of the stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average cost of $26.74 per share, with a total value of $727,221.04. Following the transaction, the director now directly owns 9,397 shares in the company, valued at $251,275.78. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP lifted its position in Genesis Energy, L.P. by 9.6% during the 3rd quarter. First Trust Advisors LP now owns 301,928 shares of the pipeline company’s stock worth $7,956,000 after acquiring an additional 26,480 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Genesis Energy, L.P. by 3.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 259,963 shares of the pipeline company’s stock worth $8,249,000 after acquiring an additional 7,572 shares during the period. The Manufacturers Life Insurance Company lifted its position in Genesis Energy, L.P. by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after acquiring an additional 271 shares during the period. CNH Partners LLC lifted its position in Genesis Energy, L.P. by 44.9% during the 2nd quarter. CNH Partners LLC now owns 18,725 shares of the pipeline company’s stock worth $594,000 after acquiring an additional 5,800 shares during the period. Finally, Green Square Capital LLC acquired a new stake in Genesis Energy, L.P. during the 2nd quarter worth about $260,000. 74.86% of the stock is owned by institutional investors.
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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