Analysts Anticipate Genesis Energy, L.P. common stock (GEL) Will Post Quarterly Sales of $768.86 Million

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Analysts predict that Genesis Energy, L.P. common stock (NYSE:GEL) will report sales of $768.86 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Genesis Energy, L.P. common stock’s earnings, with the lowest sales estimate coming in at $757.70 million and the highest estimate coming in at $780.01 million. Genesis Energy, L.P. common stock reported sales of $406.72 million in the same quarter last year, which indicates a positive year over year growth rate of 89%. The company is expected to announce its next quarterly earnings report on Wednesday, August 1st.

On average, analysts expect that Genesis Energy, L.P. common stock will report full-year sales of $3.04 billion for the current year, with estimates ranging from $2.96 billion to $3.10 billion. For the next financial year, analysts expect that the firm will report sales of $3.20 billion per share, with estimates ranging from $3.10 billion to $3.37 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Genesis Energy, L.P. common stock.

Genesis Energy, L.P. common stock (NYSE:GEL) last released its quarterly earnings data on Friday, May 4th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.08). Genesis Energy, L.P. common stock had a net margin of 2.72% and a return on equity of 8.19%. The business had revenue of $725.80 million for the quarter, compared to the consensus estimate of $684.13 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. Genesis Energy, L.P. common stock’s revenue for the quarter was up 74.7% on a year-over-year basis.

GEL has been the topic of a number of recent research reports. ValuEngine downgraded shares of Genesis Energy, L.P. common stock from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Barclays dropped their price objective on shares of Genesis Energy, L.P. common stock from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 17th. UBS Group reiterated a “buy” rating and set a $38.00 price objective (down from $39.00) on shares of Genesis Energy, L.P. common stock in a research note on Friday, March 2nd. Robert W. Baird set a $27.00 price objective on shares of Genesis Energy, L.P. common stock and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Zacks Investment Research upgraded shares of Genesis Energy, L.P. common stock from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Genesis Energy, L.P. common stock has an average rating of “Hold” and a consensus price target of $28.83.

Shares of NYSE GEL remained flat at $$23.12 during midday trading on Friday. 324,155 shares of the stock were exchanged, compared to its average volume of 639,929. The company has a current ratio of 1.40, a quick ratio of 1.17 and a debt-to-equity ratio of 1.92. Genesis Energy, L.P. common stock has a 1 year low of $18.42 and a 1 year high of $32.59. The company has a market capitalization of $2.91 billion, a P/E ratio of 21.81 and a beta of 1.09.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 9.00%. This is an increase from Genesis Energy, L.P. common stock’s previous quarterly dividend of $0.51. The ex-dividend date was Monday, April 30th. Genesis Energy, L.P. common stock’s dividend payout ratio (DPR) is 196.23%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership acquired a new stake in Genesis Energy, L.P. common stock in the fourth quarter valued at approximately $235,000. Schroder Investment Management Group acquired a new stake in Genesis Energy, L.P. common stock in the fourth quarter valued at approximately $273,000. Landscape Capital Management L.L.C. acquired a new stake in Genesis Energy, L.P. common stock in the fourth quarter valued at approximately $279,000. Guggenheim Capital LLC boosted its stake in Genesis Energy, L.P. common stock by 39.3% in the fourth quarter. Guggenheim Capital LLC now owns 14,018 shares of the pipeline company’s stock valued at $313,000 after acquiring an additional 3,952 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in Genesis Energy, L.P. common stock in the fourth quarter valued at approximately $318,000. Institutional investors own 73.01% of the company’s stock.

About Genesis Energy, L.P. common stock

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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