Genesis Energy (NYSE:GEL) issued its quarterly earnings results on Thursday. The pipeline company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.19), MarketWatch Earnings reports. Genesis Energy had a positive return on equity of 5.16% and a negative net margin of 0.21%. The firm had revenue of $620.00 million during the quarter, compared to analysts’ expectations of $719.55 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year.
Shares of NYSE:GEL traded down $0.42 during trading on Thursday, hitting $21.52. 539,849 shares of the company were exchanged, compared to its average volume of 538,258. The company has a market capitalization of $2.54 billion, a PE ratio of -269.00 and a beta of 1.42. The company has a current ratio of 1.33, a quick ratio of 1.11 and a debt-to-equity ratio of 2.04. Genesis Energy has a 12-month low of $17.55 and a 12-month high of $25.52.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 10.22%. Genesis Energy’s dividend payout ratio is presently -2,750.00%.
Large investors have recently modified their holdings of the company. Abacus Planning Group Inc. purchased a new stake in shares of Genesis Energy during the 4th quarter worth approximately $1,394,000. Arlington Partners LLC lifted its position in shares of Genesis Energy by 304.8% during the 1st quarter. Arlington Partners LLC now owns 8,500 shares of the pipeline company’s stock worth $198,000 after buying an additional 6,400 shares during the last quarter. Paragon Capital Management Ltd purchased a new stake in shares of Genesis Energy during the 1st quarter worth approximately $210,000. GWM Advisors LLC lifted its position in shares of Genesis Energy by 18.9% during the 4th quarter. GWM Advisors LLC now owns 11,700 shares of the pipeline company’s stock worth $216,000 after buying an additional 1,856 shares during the last quarter. Finally, Zazove Associates LLC purchased a new stake in shares of Genesis Energy during the 4th quarter worth approximately $379,000. Institutional investors and hedge funds own 75.37% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of Genesis Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.75.
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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