Genesis Energy, L.P. (GEL) to Distribute Quarterly Dividend of $0.20 on August 14th

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Wednesday, July 15th. Stockholders of record on Friday, July 31st will be paid a dividend of 0.20 per share by the pipeline company on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Friday, July 31st. This is a 11.1% increase from Genesis Energy’s previous quarterly dividend of $0.18.

Genesis Energy has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Genesis Energy has a dividend payout ratio of 53.0% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Stock Performance

Genesis Energy stock opened at $14.93 on Wednesday. The firm’s fifty day moving average price is $14.91 and its 200-day moving average price is $16.42. The company has a debt-to-equity ratio of 25.62, a quick ratio of 0.92 and a current ratio of 0.98. The stock has a market cap of $1.83 billion, a P/E ratio of -78.55 and a beta of 0.62. Genesis Energy has a fifty-two week low of $13.75 and a fifty-two week high of $18.64.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.22). Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($4.06) earnings per share.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEL. Royal Bank Of Canada decreased their target price on shares of Genesis Energy from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. Wells Fargo & Company cut their price target on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Finally, Weiss Ratings cut Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Genesis Energy currently has an average rating of “Moderate Buy” and an average price target of $18.00.

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.