Genesis Energy (NYSE:GEL) Announces Earnings Results

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

Genesis Energy Stock Performance

Shares of GEL opened at $11.05 on Friday. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -14.93 and a beta of 2.12. The company’s 50 day simple moving average is $13.16 and its 200 day simple moving average is $13.26. Genesis Energy has a 1 year low of $10.01 and a 1 year high of $15.17.

Genesis Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.165 per share. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.97%. Genesis Energy’s dividend payout ratio is presently -89.19%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEL. Royal Bank of Canada boosted their price target on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday.

Insider Activity at Genesis Energy

In other news, VP Garland G. Gaspard acquired 2,261 shares of Genesis Energy stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $13.27 per share, with a total value of $30,003.47. Following the completion of the purchase, the vice president now owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

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.