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

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, October 10th, Zacks reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, October 31st. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15.

Genesis Energy has decreased its dividend payment by an average of 15.7% annually over the last three years. Genesis Energy has a dividend payout ratio of 80.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Genesis Energy Stock Performance

Genesis Energy stock opened at $13.57 on Friday. The stock has a fifty day moving average price of $13.29 and a 200 day moving average price of $13.11. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74. Genesis Energy has a 52 week low of $10.01 and a 52 week high of $15.17. The firm has a market capitalization of $1.66 billion, a P/E ratio of -104.38 and a beta of 2.10.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter. During the same period last year, the firm posted $0.22 EPS.

Insider Activity at Genesis Energy

In other news, VP Garland G. Gaspard acquired 2,261 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the completion of the purchase, the vice president now directly owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of 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.