Genesis Energy, L.P. (GEL) to Issue Quarterly Dividend of $0.17 on February 14th

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 paid 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 is Friday, January 31st.

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

Genesis Energy Stock Performance

NYSE:GEL opened at $10.82 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The company’s 50 day moving average price is $10.87 and its 200-day moving average price is $12.49. Genesis Energy has a 52 week low of $9.86 and a 52 week high of $15.17.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GEL. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th.

Genesis Energy Company Profile

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.