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

Genesis Energy (NYSE:GEL) released 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 firm had revenue of $714.30 million during 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 posted $0.29 EPS.

Genesis Energy Price Performance

Shares of GEL traded down $0.28 during trading hours on Friday, reaching $11.03. 1,228,680 shares of the company traded hands, compared to its average volume of 372,127. The stock has a market capitalization of $1.35 billion, a PE ratio of -84.84 and a beta of 2.10. The stock has a fifty day simple moving average of $13.21 and a 200 day simple moving average of $13.25. Genesis Energy has a fifty-two week low of $10.01 and a fifty-two week high of $15.17. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 4.74.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 dividend yield of 5.98%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, October 31st. Genesis Energy’s payout ratio is -461.50%.

Analysts Set New Price Targets

Several analysts have weighed in on GEL shares. Royal Bank of Canada upped 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. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday. Finally, StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Insider Activity at Genesis Energy

In other news, VP Garland G. Gaspard purchased 2,261 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were 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 approximately $259,096.75. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

About Genesis Energy

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.