Genesis Energy, L.P. (GEL) To Go Ex-Dividend on October 30th

Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Wednesday, October 7th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.20 per share by the pipeline company on Friday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 30th.

Genesis Energy has decreased its dividend payment 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 53.0% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Trading Up 0.3%

GEL opened at $14.36 on Friday. Genesis Energy has a fifty-two week low of $13.55 and a fifty-two week high of $18.64. The firm has a market capitalization of $1.75 billion, a PE ratio of 75.58 and a beta of 0.83. The company has a debt-to-equity ratio of 24.31, a current ratio of 0.93 and a quick ratio of 0.90. The company’s 50-day moving average is $15.32 and its 200 day moving average is $15.68.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, August 6th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.24. The business had revenue of $532.00 million during the quarter, compared to the consensus estimate of $532.00 million. Genesis Energy had a return on equity of 55.96% and a net margin of 4.29%.During the same quarter in the previous year, the business earned ($0.12) EPS.

About Genesis Energy

Genesis Energy, L.P. is a Houston-based midstream energy company that provides transportation, handling, and logistics services for crude oil, natural gas, and related products. Its operations support energy producers, refiners, and industrial customers, with a significant presence in the Gulf of Mexico and along the U.S. Gulf Coast.

The company’s offshore pipeline transportation business includes systems that gather and transport crude oil and natural gas from offshore production areas to onshore facilities.