Genesis Energy, L.P. (NYSE:GEL) Declares $0.17 Quarterly Dividend

Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Thursday, January 16th,NASDAQ Dividends reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.165 per share by the pipeline company on Friday, February 14th. This represents a $0.66 annualized dividend and a dividend yield of 6.10%. The ex-dividend date is Friday, January 31st.

Genesis Energy has increased its dividend payment by an average of 0.8% annually over the last three years. Genesis Energy has a payout ratio of 84.6% 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 Up 1.1 %

NYSE:GEL traded up $0.12 during trading hours on Friday, reaching $10.82. The company’s stock had a trading volume of 731,801 shares, compared to its average volume of 494,536. The stock has a 50 day moving average price of $10.88 and a two-hundred day moving average price of $12.52. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The company has a market capitalization of $1.32 billion, a P/E ratio of -14.62 and a beta of 2.14. Genesis Energy has a 12 month low of $9.86 and a 12 month high of $15.17.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. The company had revenue of $714.30 million during the quarter. During the same period last year, the firm posted $0.29 earnings per share.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.

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.