Genesis Energy (NYSE:GEL) Releases 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) released its quarterly earnings data on Thursday. The pipeline company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08), Zacks reports. The business had revenue of $377.35 million during the quarter. Genesis Energy had a negative return on equity of 20.17% and a negative net margin of 24.19%. The business's revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.25) EPS.

Genesis Energy Stock Performance

NYSE:GEL traded down $0.34 during mid-day trading on Friday, reaching $17.02. The company's stock had a trading volume of 521,610 shares, compared to its average volume of 441,649. The company has a current ratio of 1.48, a quick ratio of 1.42 and a debt-to-equity ratio of 18.33. The stock has a market cap of $2.08 billion, a P/E ratio of -3.35 and a beta of 1.09. The firm's fifty day moving average price is $16.69 and its two-hundred day moving average price is $14.43. Genesis Energy has a 12-month low of $9.86 and a 12-month high of $17.77.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, July 31st. Genesis Energy's dividend payout ratio (DPR) is presently -12.67%.

Institutional Trading of Genesis Energy

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in Genesis Energy by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock valued at $63,934,000 after acquiring an additional 478,530 shares during the period. Royal Bank of Canada lifted its stake in shares of 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 purchasing an additional 122,271 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in shares of Genesis Energy in the 1st quarter worth approximately $108,000. 66.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GEL. Wall Street Zen cut Genesis Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Royal Bank Of Canada boosted their price target on Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Wells Fargo & Company increased their target price on Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday.

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.

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