Genesis Energy, L.P. (NYSE:GEL) Expected to Post Quarterly Sales of $624.85 Million

Equities research analysts expect Genesis Energy, L.P. (NYSE:GEL) to announce $624.85 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Genesis Energy’s earnings, with estimates ranging from $592.20 million to $657.50 million. Genesis Energy reported sales of $752.39 million during the same quarter last year, which would suggest a negative year over year growth rate of 17%. The company is expected to issue its next earnings report before the market opens on Tuesday, August 6th.

According to Zacks, analysts expect that Genesis Energy will report full-year sales of $2.71 billion for the current financial year, with estimates ranging from $2.50 billion to $2.97 billion. For the next year, analysts expect that the company will post sales of $2.85 billion, with estimates ranging from $2.67 billion to $3.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Genesis Energy.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, May 2nd. The pipeline company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.19). Genesis Energy had a return on equity of 5.10% and a net margin of 0.07%. The firm had revenue of $620.00 million for the quarter, compared to analysts’ expectations of $719.55 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The company’s quarterly revenue was down 14.6% on a year-over-year basis.

Several brokerages have recently issued reports on GEL. ValuEngine cut Genesis Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Zacks Investment Research upgraded Genesis Energy from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Friday, July 19th. Finally, Raymond James cut Genesis Energy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 26th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Genesis Energy currently has a consensus rating of “Hold” and an average price target of $27.40.

Shares of GEL traded down $0.60 during midday trading on Monday, hitting $21.61. 47,492 shares of the stock were exchanged, compared to its average volume of 587,158. Genesis Energy has a 52-week low of $17.55 and a 52-week high of $25.52. The stock’s fifty day moving average is $22.48. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -269.63 and a beta of 1.25. The company has a current ratio of 1.09, a quick ratio of 0.89 and a debt-to-equity ratio of 2.11.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 10.18%. The ex-dividend date of this dividend is Tuesday, July 30th. Genesis Energy’s payout ratio is currently -2,750.00%.

In other Genesis Energy news, Director Kenneth M. Jastrow II purchased 50,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were bought at an average cost of $21.54 per share, for a total transaction of $1,077,000.00. Following the completion of the purchase, the director now directly owns 70,129 shares in the company, valued at $1,510,578.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ryan S. Sims purchased 4,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average price of $21.00 per share, for a total transaction of $84,000.00. Following the completion of the purchase, the vice president now owns 8,300 shares of the company’s stock, valued at $174,300. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. OppenheimerFunds Inc. raised its stake in shares of Genesis Energy by 6.7% during the 1st quarter. OppenheimerFunds Inc. now owns 17,676,730 shares of the pipeline company’s stock worth $411,868,000 after purchasing an additional 1,108,673 shares during the period. RR Advisors LLC raised its position in Genesis Energy by 25.0% during the 1st quarter. RR Advisors LLC now owns 3,290,000 shares of the pipeline company’s stock valued at $76,564,000 after purchasing an additional 657,000 shares in the last quarter. Bank of Montreal Can raised its position in Genesis Energy by 603.4% during the 1st quarter. Bank of Montreal Can now owns 624,015 shares of the pipeline company’s stock valued at $14,539,000 after purchasing an additional 535,295 shares in the last quarter. Duff & Phelps Investment Management Co. raised its position in Genesis Energy by 151.8% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 717,700 shares of the pipeline company’s stock valued at $15,718,000 after purchasing an additional 432,700 shares in the last quarter. Finally, Biltmore Capital Advisors LLC bought a new stake in Genesis Energy during the 1st quarter valued at $4,660,000. Institutional investors own 74.25% of the company’s stock.

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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