Wall Street analysts expect that Genesis Energy, L.P. (NYSE:GEL) will announce $756.53 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Genesis Energy’s earnings, with the lowest sales estimate coming in at $704.60 million and the highest estimate coming in at $808.68 million. Genesis Energy posted sales of $720.05 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.1%. The company is scheduled to report its next quarterly earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Genesis Energy will report full-year sales of $2.98 billion for the current financial year, with estimates ranging from $2.93 billion to $3.03 billion. For the next year, analysts forecast that the business will report sales of $3.13 billion, with estimates ranging from $3.04 billion to $3.36 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Genesis Energy.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, November 1st. The pipeline company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.35). The business had revenue of $745.30 million during the quarter, compared to analyst estimates of $736.85 million. Genesis Energy had a return on equity of 5.92% and a net margin of 1.16%. The business’s revenue was up 53.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS.

GEL has been the subject of several research reports. Zacks Investment Research upgraded shares of Genesis Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine upgraded shares of Genesis Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. Royal Bank of Canada upgraded shares of Genesis Energy from a “sector perform” rating to an “outperform” rating and set a $29.00 price target for the company in a research note on Friday, November 2nd. Barclays dropped their price target on shares of Genesis Energy from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, November 2nd. Finally, Robert W. Baird lowered their target price on shares of Genesis Energy from $26.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Genesis Energy has a consensus rating of “Hold” and an average price target of $27.75.

In other news, VP Chad Anthony Landry bought 10,000 shares of the stock in a transaction that occurred on Tuesday, December 18th. The stock was purchased at an average price of $19.75 per share, for a total transaction of $197,500.00. Following the completion of the purchase, the vice president now owns 20,000 shares in the company, valued at approximately $395,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Several hedge funds have recently modified their holdings of GEL. Tortoise Index Solutions LLC lifted its position in Genesis Energy by 17.0% in the third quarter. Tortoise Index Solutions LLC now owns 18,681 shares of the pipeline company’s stock valued at $444,000 after acquiring an additional 2,709 shares during the last quarter. MAI Capital Management lifted its position in Genesis Energy by 2.2% in the third quarter. MAI Capital Management now owns 187,574 shares of the pipeline company’s stock valued at $4,461,000 after acquiring an additional 3,985 shares during the last quarter. Northern Trust Corp lifted its position in Genesis Energy by 3.4% in the second quarter. Northern Trust Corp now owns 199,251 shares of the pipeline company’s stock valued at $4,365,000 after acquiring an additional 6,527 shares during the last quarter. LVW Advisors LLC lifted its position in Genesis Energy by 37.0% in the third quarter. LVW Advisors LLC now owns 24,325 shares of the pipeline company’s stock valued at $578,000 after acquiring an additional 6,575 shares during the last quarter. Finally, Raymond James & Associates lifted its position in Genesis Energy by 5.0% in the second quarter. Raymond James & Associates now owns 190,865 shares of the pipeline company’s stock valued at $4,182,000 after acquiring an additional 9,074 shares during the last quarter. Hedge funds and other institutional investors own 74.85% of the company’s stock.

Shares of NYSE:GEL traded down $0.16 during trading on Friday, hitting $21.08. The company’s stock had a trading volume of 506,090 shares, compared to its average volume of 586,511. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 19.89 and a beta of 1.23. The company has a quick ratio of 1.57, a current ratio of 1.77 and a debt-to-equity ratio of 2.06. Genesis Energy has a fifty-two week low of $17.55 and a fifty-two week high of $25.87.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, January 31st will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.44%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.54. Genesis Energy’s payout ratio is presently 203.77%.

Genesis Energy Company Profile

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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