Genesis Energy, L.P. (NYSE:GEL) Declares $0.15 Quarterly Dividend

Genesis Energy, L.P. (NYSE:GEL) announced 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 payment by an average of 15.7% annually over the last three years. Genesis Energy has a payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Trading Up 0.7 %

NYSE GEL opened at $12.36 on Friday. Genesis Energy has a fifty-two week low of $8.05 and a fifty-two week high of $12.78. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.86 and a current ratio of 1.00. The stock has a 50 day simple moving average of $11.44 and a two-hundred day simple moving average of $11.55. The stock has a market cap of $1.51 billion, a P/E ratio of 56.18 and a beta of 2.04.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data 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 period in the prior year, the business posted $0.15 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.

Analyst Ratings Changes

Separately, StockNews.com lowered 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.