Genesis Energy, L.P. (GEL) Expected to Post Earnings of $0.30 Per Share

Wall Street brokerages expect Genesis Energy, L.P. (NYSE:GEL) to announce earnings per share (EPS) of $0.30 for the current quarter, Zacks reports. Two analysts have issued estimates for Genesis Energy’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.46. Genesis Energy reported earnings of $0.23 per share during the same quarter last year, which indicates a positive year over year growth rate of 30.4%. The firm is scheduled to report its next earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that Genesis Energy will report full year earnings of $1.20 per share for the current year, with EPS estimates ranging from $0.74 to $1.58. For the next financial year, analysts forecast that the company will report earnings of $1.26 per share, with EPS estimates ranging from $1.07 to $1.45. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Genesis Energy.

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Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $720.10 million during the quarter, compared to the consensus estimate of $644.89 million. Genesis Energy had a return on equity of 7.14% and a net margin of 4.07%. Genesis Energy’s revenue was up 68.2% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Genesis Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. UBS reissued a “buy” rating and issued a $38.00 price target (down previously from $39.00) on shares of Genesis Energy in a report on Friday, March 2nd. Finally, Robert W. Baird set a $27.00 price target on shares of Genesis Energy and gave the stock a “buy” rating in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Genesis Energy currently has a consensus rating of “Hold” and an average price target of $30.71.

In related news, insider Edward T. Flynn bought 12,525 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was purchased at an average cost of $19.96 per share, with a total value of $249,999.00. Following the transaction, the insider now owns 28,216 shares in the company, valued at approximately $563,191.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Several large investors have recently bought and sold shares of GEL. Chicago Partners Investment Group LLC lifted its position in shares of Genesis Energy by 342.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,351 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 3,367 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Genesis Energy by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after purchasing an additional 271 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Genesis Energy in the 4th quarter worth about $235,000. Schroder Investment Management Group purchased a new stake in shares of Genesis Energy in the 4th quarter worth about $273,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Genesis Energy in the 4th quarter worth about $279,000. 74.48% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy stock traded up $1.01 during trading hours on Monday, reaching $22.07. The stock had a trading volume of 664,915 shares, compared to its average volume of 712,650. The firm has a market cap of $2,580.68, a PE ratio of 20.82 and a beta of 1.10. Genesis Energy has a 52 week low of $18.42 and a 52 week high of $32.84. The company has a quick ratio of 1.20, a current ratio of 1.39 and a debt-to-equity ratio of 1.83.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 9.42%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Monday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is currently 192.45%.

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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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