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

Wall Street analysts forecast that Genesis Energy, L.P. common stock (NYSE:GEL) will post sales of $768.86 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Genesis Energy, L.P. common stock’s earnings. The lowest sales estimate is $757.70 million and the highest is $780.01 million. Genesis Energy, L.P. common stock posted sales of $406.72 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 89%. The company is scheduled to report 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 financial year, with estimates ranging from $2.96 billion to $3.10 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.20 billion per share, with estimates ranging from $3.10 billion to $3.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Genesis Energy, L.P. common stock.

Genesis Energy, L.P. common stock (NYSE:GEL) last issued its quarterly earnings data on Friday, May 4th. The pipeline company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates 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 company 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 firm earned $0.23 earnings per share. Genesis Energy, L.P. common stock’s revenue for the quarter was up 74.7% compared to the same quarter last year.

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

Shares of Genesis Energy, L.P. common stock traded up $0.70, reaching $22.13, during midday trading on Wednesday, according to MarketBeat Ratings. 326,171 shares of the company traded hands, compared to its average volume of 653,280. Genesis Energy, L.P. common stock has a 52 week low of $18.42 and a 52 week high of $32.59. The company has a quick ratio of 1.17, a current ratio of 1.40 and a debt-to-equity ratio of 1.92. The stock has a market cap of $2.62 billion, a P/E ratio of 20.88 and a beta of 1.09.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were issued a dividend of $0.52 per share. This is a positive change from Genesis Energy, L.P. common stock’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 9.40%. The ex-dividend date was Monday, April 30th. Genesis Energy, L.P. common stock’s payout ratio is presently 196.23%.

In other news, insider Edward T. Flynn bought 12,525 shares of the stock in a transaction that occurred on 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 acquisition, the insider now directly owns 28,216 shares in the company, valued at $563,191.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sanders Morris Harris LLC increased its stake in Genesis Energy, L.P. common stock by 7.0% in the 4th quarter. Sanders Morris Harris LLC now owns 56,700 shares of the pipeline company’s stock worth $1,267,000 after purchasing an additional 3,700 shares in the last quarter. Guggenheim Capital LLC increased its stake in Genesis Energy, L.P. common stock by 39.3% in the 4th quarter. Guggenheim Capital LLC now owns 14,018 shares of the pipeline company’s stock worth $313,000 after purchasing an additional 3,952 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Genesis Energy, L.P. common stock by 3.9% in the 4th quarter. Glenmede Trust Co. NA now owns 138,816 shares of the pipeline company’s stock worth $3,102,000 after purchasing an additional 5,234 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Genesis Energy, L.P. common stock by 25.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 26,575 shares of the pipeline company’s stock worth $524,000 after purchasing an additional 5,455 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Genesis Energy, L.P. common stock by 3.3% in the 1st quarter. Northern Trust Corp now owns 192,724 shares of the pipeline company’s stock worth $3,798,000 after purchasing an additional 6,081 shares in the last quarter. 73.01% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy, L.P. common stock Company Profile

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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