Genesis Energy, L.P. (GEL) To Go Ex-Dividend on October 31st

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, October 10th, Zacks reports. Investors of record on Thursday, October 31st will be given a dividend of 0.165 per share by the pipeline company on Thursday, November 14th. This represents a $0.66 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 31st. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15.

Genesis Energy has decreased its dividend by an average of 15.7% per year over the last three years. Genesis Energy has a payout ratio of 88.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Genesis Energy Stock Down 0.5 %

GEL stock opened at $12.91 on Tuesday. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96. The firm has a market cap of $1.58 billion, a PE ratio of -99.30 and a beta of 2.10. Genesis Energy has a 12 month low of $10.01 and a 12 month high of $15.17. The firm has a 50 day simple moving average of $13.26 and a 200 day simple moving average of $13.26.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. The company had revenue of $756.26 million during the quarter. During the same quarter last year, the firm earned $0.22 EPS.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com cut shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Royal Bank of Canada lifted their price target on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th.

Insider Transactions at Genesis Energy

In related news, VP Garland G. Gaspard acquired 2,261 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the purchase, the vice president now owns 19,525 shares in the company, valued at $259,096.75. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by insiders.

Genesis Energy Company Profile

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.