Genesis Energy, L.P. Announces Quarterly Dividend of $0.17 (NYSE:GEL)

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, January 16th,NASDAQ Dividends reports. Stockholders of record on Friday, January 31st will be given a dividend of 0.165 per share by the pipeline company on Friday, February 14th. This represents a $0.66 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend is Friday, January 31st.

Genesis Energy has increased its dividend payment by an average of 0.8% annually over the last three years. Genesis Energy has a dividend payout ratio of 84.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Genesis Energy Trading Up 1.1 %

GEL traded up $0.12 during trading on Friday, reaching $10.82. 731,801 shares of the company’s stock were exchanged, compared to its average volume of 494,536. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. Genesis Energy has a one year low of $9.86 and a one year high of $15.17. The firm has a fifty day moving average price of $10.88 and a two-hundred day moving average price of $12.52. The stock has a market capitalization of $1.32 billion, a PE ratio of -14.62 and a beta of 2.14.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The business had revenue of $714.30 million during the quarter. Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. During the same quarter last year, the company posted $0.29 earnings per share.

Analyst Ratings Changes

GEL has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st.

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.