Genesis Energy, L.P. (GEL) Expected to Post Earnings of $0.30 Per Share

Brokerages predict that Genesis Energy, L.P. (NYSE:GEL) will post earnings per share (EPS) of $0.30 for the current quarter, according to Zacks. Two analysts have made estimates for Genesis Energy’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.46. Genesis Energy reported earnings of $0.23 per share during the same quarter last year, which indicates a positive year over year growth rate of 30.4%. The company is scheduled to issue its next earnings results on Thursday, May 3rd.

On average, analysts expect that Genesis Energy will report full year earnings of $1.20 per share for the current year, with EPS estimates ranging from $0.74 to $1.58. For the next year, analysts expect that the business will post earnings of $1.26 per share, with EPS estimates ranging from $1.07 to $1.45. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Genesis Energy.

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Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). Genesis Energy had a net margin of 4.07% and a return on equity of 7.14%. The business had revenue of $720.10 million for the quarter, compared to the consensus estimate of $644.89 million. During the same quarter last year, the firm earned $0.19 EPS. The company’s revenue for the quarter was up 68.2% on a year-over-year basis.

Several research firms have recently weighed in on GEL. UBS reiterated a “buy” rating and set a $38.00 price objective (down previously from $39.00) on shares of Genesis Energy in a report on Friday, March 2nd. Robert W. Baird set a $27.00 price objective on Genesis Energy and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Zacks Investment Research cut Genesis Energy from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Genesis Energy has a consensus rating of “Hold” and an average target price of $30.71.

In other news, insider Edward T. Flynn bought 12,525 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were purchased at an average price of $19.96 per share, for a total transaction of $249,999.00. Following the purchase, the insider now owns 28,216 shares of the company’s stock, valued at approximately $563,191.36. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC raised its stake in shares of Genesis Energy by 7.0% during 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. Glenmede Trust Co. NA raised its stake in shares of Genesis Energy by 3.9% during 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. Cypress Wealth Advisors LLC bought a new stake in shares of Genesis Energy during the 4th quarter worth approximately $2,247,000. LPL Financial LLC bought a new stake in shares of Genesis Energy during the 4th quarter worth approximately $318,000. Finally, Guggenheim Capital LLC raised its stake in shares of Genesis Energy by 39.3% during 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. Hedge funds and other institutional investors own 74.48% of the company’s stock.

NYSE:GEL opened at $19.71 on Friday. Genesis Energy has a fifty-two week low of $18.42 and a fifty-two week high of $33.52. The company has a current ratio of 1.39, a quick ratio of 1.20 and a debt-to-equity ratio of 1.83. The stock has a market cap of $2,415.25, a PE ratio of 18.42 and a beta of 1.10.

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About Genesis Energy

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

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