Genesis Energy (NYSE:GEL) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Key Points

• Genesis Energy reported quarterly earnings of ($0.12) per share, missing the consensus estimate of ($0.04) by $0.08, with revenues declining 12.3% year-over-year to $377.35 million.
• The company announced a quarterly dividend of $0.165 per share, representing an annual yield of 3.9%, with a negative dividend payout ratio of -12.67%.
• Analysts have revised price targets for Genesis Energy, with Royal Bank of Canada increasing their target from $18.00 to $20.00 and Wells Fargo raising theirs from $18.00 to $19.00, despite a downgrade to "sell" by Wall Street Zen.

Genesis Energy (NYSE:GEL - Get Free Report) announced its quarterly earnings data on Thursday. The pipeline company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08), Zacks reports. The firm had revenue of $377.35 million during the quarter. Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The business's revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.25) earnings per share.

Genesis Energy Stock Performance

Shares of GEL traded down $0.18 during mid-day trading on Wednesday, hitting $16.92. The stock had a trading volume of 396,223 shares, compared to its average volume of 590,444. The firm has a market cap of $2.07 billion, a P/E ratio of -3.33 and a beta of 1.09. The business has a fifty day moving average price of $16.71 and a 200-day moving average price of $14.52. The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85. Genesis Energy has a 52 week low of $9.86 and a 52 week high of $17.77.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a $0.165 dividend. The ex-dividend date is Thursday, July 31st. This represents a $0.66 annualized dividend and a dividend yield of 3.9%. Genesis Energy's payout ratio is presently -12.99%.

Institutional Trading of Genesis Energy

Several hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in Genesis Energy in the 1st quarter worth about $108,000. Royal Bank of Canada increased its stake in Genesis Energy by 220.6% in the 1st quarter. Royal Bank of Canada now owns 177,686 shares of the pipeline company's stock worth $2,788,000 after acquiring an additional 122,271 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Genesis Energy by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock worth $63,934,000 after acquiring an additional 478,530 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GEL shares. Wells Fargo & Company lifted their target price on Genesis Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen cut Genesis Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Royal Bank Of Canada lifted their target price on Genesis Energy from $18.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, August 1st.

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.