Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, January 13th, Zacks reports. Stockholders of record on Monday, January 31st will be given a dividend of 0.15 per share by the pipeline company on Monday, February 14th. This represents a $0.60 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, January 28th.
Genesis Energy has decreased its dividend by 71.4% over the last three years. Genesis Energy has a payout ratio of 70.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Genesis Energy to earn ($0.14) per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of -428.6%.
Shares of NYSE GEL opened at $11.34 on Friday. Genesis Energy has a 1-year low of $5.73 and a 1-year high of $13.48. The company has a quick ratio of 1.04, a current ratio of 1.27 and a debt-to-equity ratio of 5.49. The business’s fifty day moving average price is $11.22 and its two-hundred day moving average price is $10.28.
A number of equities research analysts have recently weighed in on GEL shares. Barclays downgraded Genesis Energy from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $10.00 to $12.00 in a research note on Thursday, October 14th. Capital One Financial lowered Genesis Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $11.00 in a report on Tuesday, November 23rd. Zacks Investment Research raised Genesis Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada boosted their price target on Genesis Energy from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, November 11th. Finally, Citigroup began coverage on Genesis Energy in a research report on Friday, December 3rd. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Genesis Energy has an average rating of “Hold” and a consensus price target of $12.50.
An institutional investor recently raised its position in Genesis Energy stock. Wells Fargo & Company MN lifted its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,961 shares of the pipeline company’s stock after purchasing an additional 3,428 shares during the period. Wells Fargo & Company MN owned 0.09% of Genesis Energy worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission. 66.71% of the stock is owned by institutional investors.
About Genesis Energy
Genesis Energy LP engages in the provision of midstream services and produces natural soda ash. It operates through the following segments: Offshore Pipeline Transportation, Sodium Minerals and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. The Offshore Pipeline Transportation segment owns interests in crude oil and natural gas pipeline transportation and handling operations through its offshore pipeline transportation segment.
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