Genesis Energy, L.P. (NYSE:GEL) to Issue Quarterly Dividend of $0.17

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, October 10th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 4.84%. The ex-dividend date 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 dividend payout ratio of 80.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Genesis Energy Trading Up 2.9 %

Genesis Energy stock opened at $13.64 on Friday. Genesis Energy has a fifty-two week low of $10.01 and a fifty-two week high of $15.17. The firm’s fifty day moving average price is $13.29 and its 200-day moving average price is $13.09. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 4.74.

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

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Insider Buying and Selling at Genesis Energy

In other news, VP Garland G. Gaspard acquired 2,261 shares of Genesis Energy stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 19,525 shares in the company, valued at $259,096.75. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.72% of the stock is currently 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.