Wall Street brokerages forecast that Genesis Energy, L.P. (NYSE:GEL) will report $713.23 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Genesis Energy’s earnings. The highest sales estimate is $739.96 million and the lowest is $686.50 million. Genesis Energy reported sales of $415.49 million in the same quarter last year, which would suggest a positive year over year growth rate of 71.7%. The firm is scheduled to issue its next earnings report on Thursday, May 3rd.
On average, analysts expect that Genesis Energy will report full year sales of $2.83 billion for the current fiscal year, with estimates ranging from $2.69 billion to $2.92 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.89 billion per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Genesis Energy.
Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Genesis Energy had a net margin of 4.07% and a return on equity of 7.14%. The business had revenue of $720.10 million during the quarter, compared to analyst estimates of $644.89 million. During the same period in the previous year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 68.2% on a year-over-year basis.
GEL traded up $0.53 during trading on Wednesday, hitting $21.77. The company’s stock had a trading volume of 651,547 shares, compared to its average volume of 702,010. The company has a current ratio of 1.39, a quick ratio of 1.20 and a debt-to-equity ratio of 1.83. Genesis Energy has a twelve month low of $18.42 and a twelve month high of $32.84. The firm has a market cap of $2,602.73, a P/E ratio of 20.54 and a beta of 1.10.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be paid a $0.52 dividend. The ex-dividend date is Monday, April 30th. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a dividend yield of 9.55%. Genesis Energy’s payout ratio is currently 192.45%.
In other news, insider Edward T. Flynn purchased 12,525 shares of the stock in a transaction dated Friday, March 2nd. The shares were purchased at an average cost of $19.96 per share, with a total value of $249,999.00. Following the completion of the purchase, the insider now directly owns 28,216 shares of the company’s stock, valued at approximately $563,191.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Koch Industries Inc. acquired a new position in Genesis Energy during the fourth quarter worth $359,000. California Public Employees Retirement System boosted its stake in Genesis Energy by 4.3% during the fourth quarter. California Public Employees Retirement System now owns 178,363 shares of the pipeline company’s stock worth $3,986,000 after buying an additional 7,403 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Genesis Energy by 78.5% during the third quarter. Allianz Asset Management GmbH now owns 25,589 shares of the pipeline company’s stock worth $674,000 after buying an additional 11,255 shares during the last quarter. Deutsche Bank AG boosted its stake in Genesis Energy by 260.5% during the fourth quarter. Deutsche Bank AG now owns 1,000,750 shares of the pipeline company’s stock worth $22,366,000 after buying an additional 723,148 shares during the last quarter. Finally, Sanders Morris Harris LLC boosted its stake in Genesis Energy by 7.0% during the fourth quarter. Sanders Morris Harris LLC now owns 56,700 shares of the pipeline company’s stock worth $1,267,000 after buying an additional 3,700 shares during the last quarter. 74.39% of the stock is currently owned by institutional investors.
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Genesis Energy 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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