Genesis Energy (NYSE:GEL) Issues Earnings Results, Misses Estimates By $0.22 EPS

Genesis Energy (NYSE:GEL - Get Free Report) posted its earnings results on Thursday. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.22), Briefing.com reports. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. The company had revenue of $714.30 million for the quarter. During the same period in the previous year, the firm earned $0.29 earnings per share.

Genesis Energy Price Performance

GEL stock traded down $0.26 during midday trading on Friday, reaching $11.05. The company had a trading volume of 1,228,680 shares, compared to its average volume of 372,127. The firm has a 50-day moving average price of $13.16 and a 200-day moving average price of $13.25. The company has a market capitalization of $1.35 billion, a P/E ratio of -14.93 and a beta of 2.12. Genesis Energy has a 1 year low of $10.01 and a 1 year high of $15.17. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96.

Genesis Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.165 dividend. This is an increase from Genesis Energy's previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Thursday, October 31st. Genesis Energy's dividend payout ratio (DPR) is currently -89.19%.

Insider Activity

In related news, VP Garland G. Gaspard bought 2,261 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average cost of $13.27 per share, for a total transaction of $30,003.47. Following the completion of the transaction, the vice president now owns 19,525 shares of the company's stock, valued at approximately $259,096.75. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

GEL has been the subject of several recent analyst reports. Capital One Financial raised shares of Genesis Energy from an "equal weight" rating to an "overweight" rating in a research note on Friday. StockNews.com cut shares of Genesis Energy from a "hold" rating to a "sell" rating in a report on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on Genesis Energy from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th.

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.