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. Investors of record on Tuesday, April 30th will be paid 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 of this dividend is Monday, April 29th.

Genesis Energy has decreased its dividend 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 %

Shares of NYSE:GEL opened at $12.36 on Friday. Genesis Energy has a 52-week low of $8.05 and a 52-week high of $12.78. The firm has a fifty day moving average of $11.46 and a 200 day moving average of $11.57. The firm has a market capitalization of $1.51 billion, a PE ratio of 56.18 and a beta of 2.04. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.86 and a current ratio of 1.00.

Genesis Energy (NYSE:GEL) last posted 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). The business had revenue of $774.10 million during the quarter. Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 earnings per share.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Genesis Energy from a “buy” rating to a “hold” rating in a research note 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.