Genesis Energy (NYSE:GEL) Announces Earnings Results

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 net margin of 2.34% and a return on equity of 8.26%. The business had revenue of $714.30 million during the quarter. During the same quarter last year, the company earned $0.29 EPS.

Genesis Energy Stock Performance

GEL stock traded down $0.28 during trading hours on Friday, hitting $11.03. 1,228,680 shares of the stock were exchanged, compared to its average volume of 372,127. The company has a 50-day simple moving average of $13.21 and a two-hundred day simple moving average of $13.25. The firm has a market capitalization of $1.35 billion, a P/E ratio of -84.84 and a beta of 2.10. Genesis Energy has a 12 month low of $10.01 and a 12 month high of $15.17. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74.

Genesis Energy Increases Dividend

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

Analyst Ratings Changes

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

Insider Activity at Genesis Energy

In other Genesis Energy news, VP Garland G. Gaspard purchased 2,261 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $13.27 per share, for a total transaction of $30,003.47. Following the completion of the transaction, the vice president now owns 19,525 shares in the company, valued at approximately $259,096.75. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available 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.