Genesis Energy, L.P. (gel) To Go Ex-Dividend on April 26th

Genesis Energy, L.P. (NYSE:gel) declared a quarterly dividend on Wednesday, April 12th. Stockholders of record on Friday, April 28th will be paid a dividend of 0.72 per share by the pipeline company on Monday, May 15th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 9.05%. The ex-dividend date of this dividend is Wednesday, April 26th. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.71.

Genesis Energy, L.P. has increased its dividend payment by an average of 10.5% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Genesis Energy, L.P. has a payout ratio of 254.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Genesis Energy, L.P. to earn $1.58 per share next year, which means the company may not be able to cover its $2.88 annual dividend with an expected future payout ratio of 182.3%.

Genesis Energy, L.P. (NYSE:GEL) opened at 31.81 on Friday. Genesis Energy, L.P. has a one year low of $30.01 and a one year high of $40.90. The stock has a 50 day moving average price of $32.67 and a 200-day moving average price of $34.57. The stock has a market cap of $3.75 billion, a PE ratio of 31.87 and a beta of 1.24.

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Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly earnings data on Thursday, February 16th. The pipeline company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.13. Genesis Energy, L.P. had a return on equity of 5.70% and a net margin of 6.68%. The firm earned $428.05 million during the quarter, compared to analyst estimates of $583.49 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities research analysts expect that Genesis Energy, L.P. will post $1.23 earnings per share for the current fiscal year.

Dividend History for Genesis Energy, L.P. (NYSE:gel)

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An institutional investor recently raised its position in Genesis Energy, L.P. stock. State Street Corp increased its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,169 shares of the pipeline company’s stock after buying an additional 889 shares during the period. State Street Corp’s holdings in Genesis Energy, L.P. were worth $510,000 as of its most recent filing with the SEC. Institutional investors own 72.58% of the company’s stock.

GEL has been the topic of a number of recent analyst reports. Mitsubishi UFJ Financial Group Inc cut their price objective on shares of Genesis Energy, L.P. from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, March 24th. Wells Fargo & Co lowered shares of Genesis Energy, L.P. from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 11th. Vetr upgraded shares of Genesis Energy, L.P. from a “buy” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a report on Monday, February 27th. Capital One Financial Corp. lowered shares of Genesis Energy, L.P. from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $40.00 to $39.00 in a report on Friday, February 17th. Finally, Mitsubishi UFJ Financial Group reiterated a “neutral” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Genesis Energy, L.P. in a report on Thursday, March 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $39.58.

Genesis Energy, L.P. Company Profile

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

5 Day Chart for NYSE:GEL

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