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

Genesis Energy (NYSE:GEL) released its quarterly earnings data on Thursday. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22), Briefing.com reports. Genesis Energy had a negative return on equity of 0.30% and a negative net margin of 0.09%. The business had revenue of $714.30 million during the quarter. During the same period in the prior year, the firm earned $0.29 earnings per share.

Genesis Energy Stock Performance

Genesis Energy stock opened at $11.05 on Friday. The stock’s 50 day moving average price is $13.16 and its 200 day moving average price is $13.26. The firm has a market capitalization of $1.35 billion, a PE ratio of -14.93 and a beta of 2.12. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09. Genesis Energy has a one year low of $10.01 and a one year high of $15.17.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.165 per share. 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. This represents a $0.66 annualized dividend and a yield of 5.97%. Genesis Energy’s payout ratio is -89.19%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, VP Garland G. Gaspard purchased 2,261 shares of Genesis Energy stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $13.27 per share, with a total value of $30,003.47. Following the transaction, the vice president now owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

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.