Genesis Energy (NYSE:GEL) Announces Earnings Results, Misses Estimates By $0.53 EPS

Genesis Energy (NYSE:GEL) released its quarterly earnings results on Thursday. The pipeline company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53), Zacks reports. Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%.

Genesis Energy Trading Up 13.5 %

Shares of GEL traded up $1.41 during midday trading on Thursday, hitting $11.82. 419,275 shares of the stock were exchanged, compared to its average volume of 698,499. Genesis Energy has a 52-week low of $9.86 and a 52-week high of $15.17. The stock has a fifty day simple moving average of $10.51 and a 200 day simple moving average of $12.01. The firm has a market cap of $1.45 billion, a P/E ratio of -15.97 and a beta of 2.13. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03.

Genesis Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.58%. Genesis Energy’s dividend payout ratio is currently -89.19%.

Analyst Upgrades and Downgrades

GEL has been the subject of a number of research analyst reports. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada increased their target price on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a 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.