Wall Street analysts forecast that Genesis Energy, L.P. (NYSE:GEL) will post $762.44 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Genesis Energy’s earnings, with estimates ranging from $707.20 million to $802.23 million. Genesis Energy reported sales of $486.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 56.8%. The firm is expected to issue its next earnings report on Friday, November 2nd.
On average, analysts expect that Genesis Energy will report full year sales of $2.96 billion for the current year, with estimates ranging from $2.89 billion to $3.06 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.03 billion, with estimates ranging from $2.85 billion to $3.22 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Genesis Energy.
Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Wednesday, August 8th. The pipeline company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.22). The firm had revenue of $752.39 million for the quarter, compared to analysts’ expectations of $729.72 million. Genesis Energy had a return on equity of 7.32% and a net margin of 1.52%. Genesis Energy’s revenue was up 85.0% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS.
In related news, VP Garland G. Gaspard bought 1,247 shares of Genesis Energy stock in a transaction that occurred on Wednesday, September 5th. The shares were purchased at an average price of $24.07 per share, with a total value of $30,015.29. Following the purchase, the vice president now owns 1,247 shares in the company, valued at $30,015.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. OppenheimerFunds Inc. lifted its stake in Genesis Energy by 3.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 16,689,722 shares of the pipeline company’s stock valued at $365,672,000 after buying an additional 498,828 shares in the last quarter. Chickasaw Capital Management LLC lifted its stake in Genesis Energy by 6.8% in the 2nd quarter. Chickasaw Capital Management LLC now owns 13,294,227 shares of the pipeline company’s stock valued at $291,277,000 after buying an additional 844,823 shares in the last quarter. Alps Advisors Inc. lifted its stake in Genesis Energy by 5.8% in the 2nd quarter. Alps Advisors Inc. now owns 9,067,271 shares of the pipeline company’s stock valued at $198,664,000 after buying an additional 498,557 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Genesis Energy during the 2nd quarter worth $44,868,000. Finally, UBS Group AG lifted its stake in shares of Genesis Energy by 1.9% during the 1st quarter. UBS Group AG now owns 1,813,824 shares of the pipeline company’s stock worth $35,751,000 after purchasing an additional 33,090 shares during the period. 73.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:GEL traded up $0.10 during trading on Monday, hitting $24.42. 655,326 shares of the stock were exchanged, compared to its average volume of 643,392. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 23.04 and a beta of 1.24. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.50 and a quick ratio of 1.26. Genesis Energy has a 12-month low of $18.42 and a 12-month high of $25.87.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be paid a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $2.16 dividend on an annualized basis and a yield of 8.85%. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.53. Genesis Energy’s dividend payout ratio is presently 200.00%.
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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