Equities analysts predict that Genesis Energy, L.P. (NYSE:GEL) will post $0.36 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Genesis Energy’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.45. Genesis Energy posted earnings per share of $0.19 in the same quarter last year, which would suggest a positive year over year growth rate of 89.5%. The firm is expected to issue its next quarterly earnings results on Thursday, February 15th.
On average, analysts expect that Genesis Energy will report full-year earnings of $0.97 per share for the current year, with EPS estimates ranging from $0.86 to $1.09. For the next year, analysts forecast that the business will report earnings of $1.50 per share, with EPS estimates ranging from $1.15 to $1.90. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Genesis Energy.
GEL has been the subject of several analyst reports. Robert W. Baird raised Genesis Energy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $35.00 to $37.00 in a research note on Monday, August 7th. Zacks Investment Research raised Genesis Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded Genesis Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reissued a “hold” rating and issued a $34.00 price objective on shares of Genesis Energy in a research note on Monday, August 21st. Finally, Barclays raised Genesis Energy from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $31.00 to $27.00 in a research note on Friday, October 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Genesis Energy presently has an average rating of “Hold” and a consensus target price of $33.45.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Tortoise Capital Advisors L.L.C. grew its holdings in Genesis Energy by 4.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock valued at $327,222,000 after purchasing an additional 431,059 shares during the period. Alps Advisors Inc. grew its holdings in Genesis Energy by 11.3% during the third quarter. Alps Advisors Inc. now owns 8,713,795 shares of the pipeline company’s stock valued at $229,608,000 after purchasing an additional 881,434 shares during the period. RR Advisors LLC grew its holdings in Genesis Energy by 3.6% during the third quarter. RR Advisors LLC now owns 2,401,000 shares of the pipeline company’s stock valued at $63,243,000 after purchasing an additional 84,000 shares during the period. JPMorgan Chase & Co. grew its holdings in Genesis Energy by 46.1% during the third quarter. JPMorgan Chase & Co. now owns 2,202,594 shares of the pipeline company’s stock valued at $57,642,000 after purchasing an additional 695,436 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Genesis Energy by 3.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,482,312 shares of the pipeline company’s stock valued at $47,034,000 after purchasing an additional 53,656 shares during the period. 73.32% of the stock is owned by institutional investors.
Shares of Genesis Energy (NYSE GEL) traded up $0.75 during trading on Friday, hitting $22.22. The stock had a trading volume of 1,283,375 shares, compared to its average volume of 536,842. The stock has a market capitalization of $2,720.00, a P/E ratio of 22.67 and a beta of 1.18. Genesis Energy has a 12-month low of $20.43 and a 12-month high of $37.88. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 1.80.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.00%. The ex-dividend date was Monday, October 30th. Genesis Energy’s payout ratio is 285.71%.
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About Genesis Energy
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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