Genesis Energy, L.P. (NYSE:GEL) Plans Dividend Increase – $0.18 Per Share

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, January 15th. Stockholders of record on Friday, January 30th will be paid a dividend of 0.18 per share by the pipeline company on Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, January 30th. This is a 9.1% increase from Genesis Energy’s previous quarterly dividend of $0.17.

Genesis Energy has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Genesis Energy has a payout ratio of 43.7% meaning its dividend is sufficiently covered by earnings.

Genesis Energy Stock Up 2.2%

Genesis Energy stock traded up $0.37 on Thursday, hitting $16.96. 256,421 shares of the stock traded hands, compared to its average volume of 254,686. Genesis Energy has a 1 year low of $10.28 and a 1 year high of $17.77. The firm has a market cap of $2.08 billion, a P/E ratio of -3.53 and a beta of 0.84. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 19.90. The business’s fifty day simple moving average is $15.70 and its 200 day simple moving average is $16.24.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, October 30th. The pipeline company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.18). Genesis Energy had a negative return on equity of 28.39% and a negative net margin of 26.61%.The business had revenue of $414.00 million during the quarter. During the same period last year, the firm posted ($0.32) EPS. Genesis Energy’s quarterly revenue was up 4.2% compared to the same quarter last year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GEL shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genesis Energy in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Genesis Energy in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Genesis Energy Company Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.