Genesis Energy, L.P. (NYSE:GEL) Increases Dividend to $0.17 Per Share

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, October 10th, Zacks reports. Investors of record on Thursday, October 31st will be paid a dividend of 0.165 per share by the pipeline company on Thursday, November 14th. This represents a $0.66 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 31st. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15.

Genesis Energy has decreased its dividend by an average of 15.7% per year over the last three years. Genesis Energy has a dividend payout ratio of 88.0% 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 0.6 %

GEL stock opened at $12.98 on Wednesday. The firm has a market capitalization of $1.59 billion, a PE ratio of -99.85 and a beta of 2.10. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 4.74. Genesis Energy has a twelve month low of $10.01 and a twelve month high of $15.17. The stock’s 50 day moving average is $13.25 and its 200-day moving average is $13.27.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. The company had revenue of $756.26 million for the quarter. During the same quarter in the previous year, the business posted $0.22 EPS.

Insider Activity

In related news, VP Garland G. Gaspard purchased 2,261 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the purchase, the vice president now directly owns 19,525 shares in the company, valued at approximately $259,096.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GEL has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. StockNews.com cut Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

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.