Genesis Energy (NYSE:GEL) Releases Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Genesis Energy (NYSE:GEL) announced 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. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. The firm had revenue of $714.30 million during the quarter. During the same quarter last year, the company earned $0.29 EPS.

Genesis Energy Stock Down 2.5 %

GEL stock traded down $0.28 during trading hours on Friday, reaching $11.03. 1,228,680 shares of the stock were exchanged, compared to its average volume of 372,127. The firm’s 50-day moving average is $13.21 and its 200-day moving average is $13.25. Genesis Energy has a 12 month low of $10.01 and a 12 month high of $15.17. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -84.84 and a beta of 2.10. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.165 dividend. The ex-dividend date is Thursday, October 31st. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 5.98%. Genesis Energy’s dividend payout ratio is presently -461.50%.

Insider Activity

In other Genesis Energy news, VP Garland G. Gaspard purchased 2,261 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $13.27 per share, with a total value of $30,003.47. Following the purchase, the vice president now directly 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday. Royal Bank of Canada lifted their target price on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com cut Genesis Energy from a “hold” rating to a “sell” rating in a research note 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.