Genesis Energy, L.P. (NYSE:GEL) Plans Quarterly Dividend of $0.20

Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Thursday, July 16th. Investors 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) annualized dividend and a 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 by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Genesis Energy has a dividend payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Stock Performance

GEL opened at $14.92 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62. The stock’s 50 day moving average price is $15.10 and its two-hundred day moving average price is $16.47. The firm has a market capitalization of $1.83 billion, a P/E ratio of -78.55 and a beta of 0.62. Genesis Energy has a 12-month low of $13.75 and a 12-month high of $18.64.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, May 7th. The pipeline company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.Genesis Energy’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned ($4.06) EPS.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings downgraded shares of Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

About Genesis Energy

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.