Genesis Energy (NYSE:GEL) Releases Earnings Results

Genesis Energy (NYSE:GEL) posted its quarterly earnings results on Thursday. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22), Briefing.com reports. The business had revenue of $714.30 million for the quarter. Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. During the same quarter in the prior year, the company earned $0.29 EPS.

Genesis Energy Stock Down 2.3 %

NYSE:GEL traded down $0.26 on Friday, hitting $11.05. 1,228,680 shares of the company’s stock were exchanged, compared to its average volume of 372,127. The company has a market cap of $1.35 billion, a P/E ratio of -84.99 and a beta of 2.10. The firm has a 50-day moving average price of $13.16 and a 200-day moving average price of $13.25. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96. Genesis Energy has a 52 week low of $10.01 and a 52 week high of $15.17.

Genesis Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend is Thursday, October 31st. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s payout ratio is currently -461.50%.

Insider Buying and Selling at Genesis Energy

In other Genesis Energy news, VP Garland G. Gaspard bought 2,261 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $13.27 per share, with a total value of $30,003.47. Following the acquisition, the vice president now owns 19,525 shares of the company’s stock, valued at $259,096.75. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEL. Royal Bank of Canada boosted their price target on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday. Finally, StockNews.com cut shares of Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.

Genesis Energy Company Profile

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.