Genesis Energy, L.P. (NYSE:GEL) to Issue Quarterly Dividend of $0.15

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, April 11th, Zacks reports. Shareholders of record on Tuesday, April 30th will be given a dividend of 0.15 per share by the pipeline company on Wednesday, May 15th. This represents a $0.60 annualized dividend and a yield of 4.85%. The ex-dividend date is Monday, April 29th.

Genesis Energy has decreased its dividend payment by an average of 15.7% per year over the last three years. Genesis Energy has a dividend payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Stock Up 0.7 %

GEL opened at $12.36 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 4.18. Genesis Energy has a 1-year low of $8.05 and a 1-year high of $12.78. The company has a market capitalization of $1.51 billion, a PE ratio of 56.18 and a beta of 2.04. The firm’s 50 day simple moving average is $11.46 and its two-hundred day simple moving average is $11.57.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.31). Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. The business had revenue of $774.10 million during the quarter. During the same quarter in the previous year, the firm earned $0.15 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Genesis Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th.

About Genesis Energy

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.