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

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Friday, April 11th, Wall Street Journal reports. Stockholders of record on Wednesday, April 30th will be given a dividend of 0.165 per share by the pipeline company on Thursday, May 15th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Wednesday, April 30th.

Genesis Energy has increased its dividend by an average of 0.8% per year over the last three years. Genesis Energy has a dividend payout ratio of 86.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Genesis Energy Stock Up 1.7 %

GEL traded up $0.22 during trading on Friday, hitting $13.03. The stock had a trading volume of 266,709 shares, compared to its average volume of 722,933. Genesis Energy has a twelve month low of $9.86 and a twelve month high of $16.44. The company has a market capitalization of $1.60 billion, a PE ratio of -10.50 and a beta of 1.39. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The stock has a 50 day simple moving average of $13.18 and a two-hundred day simple moving average of $12.10.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The business had revenue of $725.55 million during the quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEL. Wells Fargo & Company upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Royal Bank of Canada increased their price objective on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, March 17th.

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.