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

Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Wednesday, July 15th. Investors of record on Friday, July 31st will be paid a dividend of 0.20 per share by the pipeline company on Friday, August 14th. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, July 31st. This is a 11.1% increase from Genesis Energy’s previous quarterly dividend of $0.18.

Genesis Energy has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. Genesis Energy has a dividend payout ratio of 47.7% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Stock Up 3.4%

GEL opened at $14.92 on Friday. The firm has a 50 day moving average price of $15.10 and a 200-day moving average price of $16.47. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -78.55 and a beta of 0.62. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62. Genesis Energy has a twelve month low of $13.75 and a twelve month high of $18.64.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.22). Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. During the same quarter in the prior year, the business earned ($4.06) EPS. Genesis Energy’s revenue was up 12.1% on a year-over-year basis.

Insider Buying and Selling

In other Genesis Energy news, SVP Garland G. Gaspard purchased 12,340 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $16.34 per share, with a total value of $201,635.60. Following the completion of the purchase, the senior vice president owned 36,881 shares in the company, valued at approximately $602,635.54. This represents a 50.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Genesis Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Genesis Energy by 220.6% in the first quarter. Royal Bank of Canada now owns 177,686 shares of the pipeline company’s stock valued at $2,788,000 after acquiring an additional 122,271 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Genesis Energy during the 1st quarter worth approximately $108,000. Goldman Sachs Group Inc. raised its position in Genesis Energy by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock worth $63,934,000 after acquiring an additional 478,530 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Genesis Energy by 42.9% during the second quarter. Cetera Investment Advisers now owns 17,543 shares of the pipeline company’s stock valued at $302,000 after acquiring an additional 5,267 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Genesis Energy during the second quarter worth $3,069,000. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Company Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.