Genesis Energy (NYSE:GEL) Stock, Quote.Headers.trade-ideas

Genesis Energy

Genesis Energy LP is a United States-based limited partnership that focuses on the midstream segment of the crude oil and natural gas industry. It engages in providing services to crude oil and natural gas producers, and industrial and commercial enterprises. The company's reportable segments are offshore pipeline transportation, sodium minerals, and sulfur services, onshore facilities and transportation, and marine transportation. It generates maximum revenue from the offshore pipeline transportation segment which conducts crude oil and natural gas pipeline transportation and handling operations in the Gulf of Mexico through its offshore pipeline transportation segment, which focuses on providing a suite of services to integrated and large independent energy companies.

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ANSAC Increases Export Prices By US$25.00/MT On All Non-Contract Sales Of Soda Ash, And On Contracted Sales When Contracts Allow

Genesis Energy, L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) today announced that it has priced a public offering of $700,000,000 in aggregate principal amount of 7.875% senior unsecured notes due 2032 (the "notes"). The offering of the notes was upsized from the previously announced $500,000,000 in aggregate principal amount of the notes. The price to investors will be 100% of the principal amount of the notes. The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation, and will be guaranteed, with certain exceptions, by substantially all of our existing and future subsidiaries other than our unrestricted subsidiaries. We intend to use a portion of the net proceeds from the offering of the notes to redeem all of our outstanding 6.250% senior unsecured notes due 2026 and the remainder for general partnership purposes, including repaying a portion of the borrowings outstanding under our credit facility. The offering of the notes is expected to settle and close on May 9, 2024, subject to customary closing conditions.
RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Capital One Securities, Inc., Regions Securities LLC, SMBC Nikko Securities America, Inc., BNP Paribas Securities Corp., BofA Securities, Inc., Citigroup Global Markets Inc., Citizens JMP Securities, LLC, Fifth Third Securities, Inc., Scotia Capital (USA) Inc. and Truist Securities, Inc. are acting as joint book-running managers for the offering and Comerica Securities, Inc. is acting as co-manager.

Offerings

Genesis Energy, L.P. Upsizes And Prices Public Offering Of 7.875% Senior Unsecured Notes Due 2032 From $500M To $700M

Genesis Energy, L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) today announced the commencement, subject to market and other conditions, of a registered, underwritten public offering of&nbsp;$500,000,000&nbsp;in aggregate principal amount of senior unsecured notes due 2032 (the &quot;notes&quot;). The notes will be co-issued with our subsidiary, Genesis Energy Finance Corporation, and will be guaranteed, with certain exceptions, by substantially all of our existing and future subsidiaries other than our unrestricted subsidiaries. We intend to use a portion of the net proceeds from the offering of the notes to redeem all of our outstanding&nbsp;6.250%&nbsp;senior unsecured notes due 2026 and the remainder for general partnership purposes, including repaying a portion of the borrowings outstanding under our credit facility.
RBC Capital Markets, LLC is leading the offering along with several joint book-running managers and co-managers. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to this offering, when available, may be obtained from RBC Capital Markets, LLC, Attn: HY Capital Markets, 200 Vesey Street, 8th Floor, New York, NY 10281, or by telephone at (212) 428-6200.

Genesis Energy, L.P. Announces Public Offering of $0.5B Senior Notes

Genesis Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) reported quarterly losses of $(0.09) per share. The company reported $770.105 million in sales this quarter. This is a 2.59 percent decrease over sales of $790.612 million the same period last year.

Genesis Energy Q1 2024 GAAP EPS $(0.09), Sales $770.105M Down From $790.612M YoY

Genesis Energy Filed For Mixed Shelf; Size Not Disclosed

Genesis Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) reported quarterly losses of $(0.08) per share. This is a 153.33 percent decrease over earnings of $0.15 per share from the same period last year. The company reported $774.10 million in sales this quarter. This is a 8.41 percent increase over sales of $714.04 million the same period last year.

UPDATE: Genesis Energy Q4 EPS $(0.08) Down From $0.15 YoY, Sales $774.10M Up From $714.04M YoY

Guidance

Genesis Energy Expects Adjusted EBITDA Of $680M-$740M In FY24

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Earnings Scheduled For February 15, 2024

By the close of today, February 14, 2024, Genesis Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) will issue a dividend payout of $0.15 per share, resulting in an annualized dividend yield of 4.86%. This payout is exclusively for shareholders who held the stock before the ex-dividend date on January 30, 2024.
<h3>Genesis Energy Recent Dividend Payouts</h3>
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<thead>
<tr>
<th>Ex-Date</th>
<th style="text-align: right;">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2024-01-30</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>4.86%</td>
<td>2024-01-10</td>
<td>2024-01-31</td>
<td>2024-02-14</td>
</tr>
<tr>
<td>2023-10-30</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>5.84%</td>
<td>2023-10-11</td>
<td>2023-10-31</td>
<td>2023-11-14</td>
</tr>
<tr>
<td>2023-07-28</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>6.08%</td>
<td>2023-07-12</td>
<td>2023-07-31</td>
<td>2023-08-14</td>
</tr>
<tr>
<td>2023-04-27</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>5.36%</td>
<td>2023-04-11</td>
<td>2023-04-28</td>
<td>2023-05-15</td>
</tr>
<tr>
<td>2023-01-30</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>5.67%</td>
<td>2023-01-11</td>
<td>2023-01-31</td>
<td>2023-02-14</td>
</tr>
<tr>
<td>2022-10-28</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>5.91%</td>
<td>2022-10-10</td>
<td>2022-10-31</td>
<td>2022-11-14</td>
</tr>
<tr>
<td>2022-07-28</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>7.5%</td>
<td>2022-07-12</td>
<td>2022-07-29</td>
<td>2022-08-12</td>
</tr>
<tr>
<td>2022-04-28</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>4.8%</td>
<td>2022-04-06</td>
<td>2022-04-29</td>
<td>2022-05-13</td>
</tr>
<tr>
<td>2022-01-28</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>4.95%</td>
<td>2022-01-13</td>
<td>2022-01-31</td>
<td>2022-02-14</td>
</tr>
<tr>
<td>2021-10-28</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>5.6%</td>
<td>2021-10-05</td>
<td>2021-10-29</td>
<td>2021-11-12</td>
</tr>
<tr>
<td>2021-07-29</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>5.26%</td>
<td>2021-07-07</td>
<td>2021-07-30</td>
<td>2021-08-13</td>
</tr>
<tr>
<td>2021-04-29</td>
<td style="text-align: right;">4</td>
<td>$0.15</td>
<td>6.3%</td>
<td>2021-04-07</td>
<td>2021-04-30</td>
<td>2021-05-14</td>
</tr>
</tbody>
</table>
With a dividend yield that places it neither at the top nor the bottom, Genesis Energy finds itself in the middle among its industry peers, while Okeanis Eco Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECO#NYSE">ECO</a>) boasts the highest annualized dividend yield at 18.41%.
<h3>Analyzing Genesis Energy Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707923127_0.png" alt="dividend chart graph" />
As you can see, from 2020 to 2023, investors saw an average decrease in the company's dividend per share, decreasing from $1.00 in 2020 to $0.60 in 2023. This is not favorable for investors as it indicates a decline in the company's dividend payout over the years. Further analysis is recommended to understand the factors contributing to this decrease.
<h3>YoY Earnings Growth For Genesis Energy</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707923127_1.png" alt="earning chart graph" />
Investors can observe a growth in earnings for Genesis Energy from 2020 to 2023, as earnings per share increased from $-0.71 to $0.45. This upward trajectory in earnings indicates potential for future cash dividend payout increases, which can be advantageous for income-seeking investors.
<h3>Recap</h3>
This article delves into the recent dividend payout of Genesis Energy and its implications for shareholders. Presently, the company is distributing a dividend of $0.15 per share, leading to an annualized dividend yield of 4.86%.
With a dividend yield that places it neither at the top nor the bottom, Genesis Energy finds itself in the middle among its industry peers, while Okeanis Eco Tankers boasts the highest annualized dividend yield at 18.41%.
Considering the decrease in dividend per share from 2020 to 2023 along with an increase in earnings per share, Genesis Energy seems to be allocating more profits towards business expansion instead of dividend payments.
It is advisable for investors to monitor the company's performance in the coming quarters to stay in the loop about any adjustments in financials or dividend disbursements.
[Click here](<a href="https://www.benzinga.com/stock//dividends" title="https://www.benzinga.com/stock//dividends">https://www.benzinga.com/stock//dividends</a>) to find details on Genesis Energy's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Dividends

Increasing Earnings, Adjusted Dividends: Genesis Energy Ensures Stability for Shareholders through Strategic Changes

Reported Late Thursday, Genesis Energy Upsizes And Prices $600M Public Offering Of 8.250% Senior Unsecured Notes Due 2029

RBC Capital analyst Elvira Scotto maintains Genesis Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) with a Outperform and raises the price target from $14 to $15.

RBC Capital Maintains Outperform on Genesis Energy, Raises Price Target to $15

Genesis Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) reported quarterly earnings of $0.29 per share which beat the analyst consensus estimate of $0.25 by 16 percent. This is a 341.67 percent increase over losses of $(0.12) per share from the same period last year. The company reported quarterly sales of $807.62 million which beat the analyst consensus estimate of $398.84 million by 102.49 percent. This is a 11.98 percent increase over sales of $721.25 million the same period last year.

Genesis Energy Q3 EPS $0.29 Beats $0.25 Estimate, Sales $807.62M Beat $398.84M Estimate

Could the price of oil potentially reach $100 per barrel? This question is currently at the forefront of investors&#8217; minds in the current market landscape with WTI oil trading around $92 per barrel and Brent <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/09/34734395/99-fed-rate-hold-odds-vs-100-oil-wednesdays-make-or-break-moment">oil sailing above $95.</a>
This psychological milestone could be a cause for concern for a significant portion of the economy, particularly those heavily reliant on energy prices, as well as consumers who would bear the brunt of further gasoline price increases at the pump.
As is often the case with economic shocks, there are winners as well. Energy companies, oil producers, refineries and crude-related businesses involved in storage and transportation can clearly benefit from the surge in oil prices.
Read Also: <a href="https://www.benzinga.com/news/large-cap/23/09/34700637/is-100-oil-on-the-horizon-industry-experts-say-yes-heres-why">Is $100 Oil On The Horizon? Industry Experts Say Yes, Here&#8217;s Why</a>
Following the recent substantial price hikes — oil has seen a more than 30% increase since mid-June 2023 — many oil-related stocks have already factored in this rise, aligning with the median target prices set by Wall Street analysts.
Oil giants like Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) presently show only minimal projected upside potential, based on the actual median analyst target for each of these stocks.
On the contrary, the following five stocks retain untapped growth potential, with the market potentially underestimating the recent surge in oil prices. Their Wall Street median target prices are at least 20% higher than their current prices, presenting an attractive prospect for investors in search of value within the energy sector.
<h2 class="wp-block-heading">5 U.S. Oil Firms with 20% Growth Potential</h2>
<h3 class="wp-block-heading">5) APA Corporation</h3>
<ul>
<li>Description: APA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) is a global energy company with a focus on exploration, production, and development of oil and natural gas properties worldwide. It is dedicated to advancing innovative and sustainable energy solutions.</li>
<li>Sector: Energy</li>
<li>Industry: Oil and gas exploration and production</li>
<li>Performance (3-month): 24%</li>
<li>Performance (year-to-date): -7%</li>
<li>P/E ratio (next 12 months): 8.2x</li>
<li>Median Analysts Price Target (% above current prices): 19.5%</li>
</ul>
Read Also: <a href="https://www.benzinga.com/quote/apa/analyst-ratings">APA Stock, Analyst Ratings, Price Targets, Predictions</a>
<h3 class="wp-block-heading">4) Genesis Energy L.P.</h3>
<ul>
<li>Description: Genesis Energy L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) is a master limited partnership that provides a range of services, including pipeline transportation, refinery services and more, primarily in the midstream energy sector.</li>
<li>Sector: Energy</li>
<li>Industry: Oil and gas midstream</li>
<li>Performance (3-month): 10%</li>
<li>Performance (year-to-date): 11%</li>
<li>P/E ratio (next 12 months): 11.1x</li>
<li>Median Analysts Price Target (% above current prices): 19.6%</li>
</ul>
Read Also: <a href="https://www.benzinga.com/quote/gel/analyst-ratings">Genesis Energy Stock, Analyst Ratings, Price Targets, Predictions</a>
<h3 class="wp-block-heading">3) Gulfport Energy Corporation</h3>
<ul>
<li>Description: Gulfport Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPOR#NASDAQ">GPOR</a>) is an energy company engaged in the exploration, production and marketing of natural gas, crude oil and natural gas liquids.</li>
<li>Sector: Energy</li>
<li>Industry: Oil and gas exploration and production</li>
<li>Performance (3-month): 9%</li>
<li>Performance (year-to-date): 55%</li>
<li>P/E ratio (next 12 months): 5.5x</li>
<li>Median Analysts Price Target (% above current prices): 21.8%</li>
</ul>
Read Also: <a href="https://www.benzinga.com/quote/gpor/analyst-ratings">Gulfport Energy Stock, Analyst Ratings, Price Targets, Predictions</a>
<h3 class="wp-block-heading">2) Marathon Oil Corporation</h3>
<ul>
<li>Description: Marathon Oil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) is an exploration and production company dedicated to the exploration, production, and marketing of crude oil and natural gas.</li>
<li>Sector: Energy</li>
<li>Industry: Oil and gas exploration and production</li>
<li>Performance (3-month): 15%</li>
<li>Performance (year-to-date): 0.6%</li>
<li>P/E ratio (next 12 months): 8.9x</li>
<li>Median Analysts Price Target (% above current prices): 22.7%</li>
</ul>
Read Also: <a href="https://www.benzinga.com/quote/mro/analyst-ratings">Marathon Oil Stock, Analyst Ratings, Price Targets, Predictions</a>
<h3 class="wp-block-heading">1) Northern Oil &amp; Gas, Inc.</h3>
<ul>
<li>Description: Northern Oil &amp; Gas Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOG#NYSE">NOG</a>) is an energy company specializing in the acquisition and development of oil and natural gas properties primarily in the U.S.</li>
<li>Sector: Energy</li>
<li>Industry: Oil and gas exploration and production</li>
<li>Performance (3-month): 22%</li>
<li>Performance (year-to-date): 33%</li>
<li>P/E ratio (next 12 months): 5.2x</li>
<li>Median Analysts Price Target (% above current prices): 24.7%</li>
</ul>
Read Also: <a href="https://www.benzinga.com/quote/nog/analyst-ratings">Northern Oil &amp; Gas Stock, Analyst Ratings, Price Targets, Predictions</a>
Photo: Shutterstock

Genesis Energy, L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEL#NYSE">GEL</a>) today announced that its Board of Directors has approved a common equity repurchase program authorizing the repurchase of up to&nbsp;10 percent&nbsp;of its outstanding Class A common units (the &quot;Program&quot;).
Grant Sims, Chairman and CEO, commented, &quot;As discussed in last week&#39;s earnings release, the&nbsp;outlook&nbsp;for Genesis remains constructive, and we continue to have a clear line of sight to generating cash flow of roughly&nbsp;$200&nbsp;to&nbsp;$300 million&nbsp;per year after certain cash obligations (including interest payments, preferred and existing common unit distributions, maintenance capital requirements, principal payments on our Alkali senior secured notes, de minimus growth capital, etc.) starting in late 2024 and accelerating into 2025. We believe our current equity valuation does not reflect the strength of our asset base or the long-term&nbsp;outlook&nbsp;of our market-leading businesses. Given this backdrop, we believe this is an appropriate time to institute a repurchase program which we intend to manage in a prudent and balanced manner consistent with our priority of maintaining our targeted long-term leverage ratio over time.
This Program is in addition to our opportunistic repurchases of our outstanding Class A Convertible Preferred units, of which to date we have redeemed a total of&nbsp;$50 million. We have also purchased outstanding bonds in the open market over the last several years, when we believe they also do not reflect the long-term&nbsp;outlook&nbsp;for Genesis. All of these actions demonstrate our ability and willingness to return capital to all of our investors.
We anticipate funding any repurchase activity with a portion of our cash flow and liquidity, provided that we are comfortable we remain on track to achieving and maintaining our targeted long-term leverage ratio. We remain committed to executing our financial strategy in a disciplined manner and maximizing value for all of our stakeholders.&quot;
The Program authorizes the repurchase from time to time of up to&nbsp;10 percent&nbsp;of the outstanding Class A common units, or 12,253,922 units, via open market purchases or negotiated transactions conducted in accordance with applicable regulatory requirements, and these repurchases may be made pursuant to a repurchase plan or plans that comply with Rule 10b5-1 under the Securities Exchange Act of 1934. Ultimately, the amount, timing and pace of potential repurchase activity will be determined by a number of factors, including market conditions, GEL&#39;s financial performance and flexibility, the absolute and relative equity prices of GEL Class A common units, and the extent to which GEL is positioned to achieve and maintain its targeted leverage ratio. The Program has been authorized by the Board of Directors of Genesis Energy, L.P. will be reviewed no later than December 31, 2024, and may be suspended or discontinued at any time prior thereto. The Program does not obligate GEL to acquire a particular number of Class A common units and any Class A common units of GEL that are repurchased will be canceled.

Buybacks

Genesis Energy, L.P. Authorizes Common Unit Repurchase Program Of Up To 10% Of Its Outstanding Class A Common Units

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Genesis Energy

Genesis Energy (GEL) Forecast

Genesis Energy (NYSE:GEL) Stock, Quote.Headers.trade-ideas