According to Zacks, “Genesis Energy operates crude oil common carrier pipelines and is an independent gatherer and marketer of crude oil in North America, with operations concentrated in Texas, Louisiana, Alabama, Florida, Mississippi and New Mexico. “
A number of other brokerages also recently issued reports on GEL. UBS Group downgraded shares of Genesis Energy from a buy rating to a neutral rating and reduced their price objective for the company from $21.00 to $15.00 in a research report on Thursday. ValuEngine downgraded shares of Genesis Energy from a strong-buy rating to a buy rating in a research report on Tuesday, December 24th. Finally, Wells Fargo & Co downgraded shares of Genesis Energy from an equal weight rating to an underweight rating and set a $21.00 price objective on the stock. in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $21.75.
Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Wednesday, February 19th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $604.33 million for the quarter, compared to the consensus estimate of $697.50 million. Genesis Energy had a net margin of 3.87% and a return on equity of 7.60%. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS. On average, sell-side analysts anticipate that Genesis Energy will post 0.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 15.83%. The ex-dividend date was Thursday, January 30th. Genesis Energy’s dividend payout ratio (DPR) is presently 611.11%.
A number of institutional investors have recently made changes to their positions in GEL. Arrow Investment Advisors LLC raised its position in Genesis Energy by 3.3% in the 4th quarter. Arrow Investment Advisors LLC now owns 20,320 shares of the pipeline company’s stock worth $416,000 after buying an additional 657 shares during the last quarter. SNS Financial Group LLC boosted its position in shares of Genesis Energy by 9.3% during the 4th quarter. SNS Financial Group LLC now owns 11,700 shares of the pipeline company’s stock valued at $240,000 after acquiring an additional 1,000 shares during the last quarter. BerganKDV Wealth Management LLC bought a new stake in Genesis Energy in the fourth quarter worth $35,000. UMB Bank N A MO lifted its position in Genesis Energy by 12.3% in the fourth quarter. UMB Bank N A MO now owns 15,715 shares of the pipeline company’s stock worth $322,000 after buying an additional 1,715 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Genesis Energy by 10.8% in the fourth quarter. Stifel Financial Corp now owns 20,355 shares of the pipeline company’s stock worth $416,000 after buying an additional 1,988 shares during the last quarter. Institutional investors own 71.77% of the company’s stock.
About Genesis Energy
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.
Recommended Story: Is it Safe to Invest in Commodities?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Genesis Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesis Energy and related companies with MarketBeat.com's FREE daily email newsletter.