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

Key Points

• Genesis Energy, L.P. has declared a quarterly dividend of $0.17 per share, with stockholders of record on October 31st receiving payments on November 14th.
• The company reported a negative earnings per share of ($0.12) for the last quarter, falling short of estimates, alongside a decline in revenue of 12.3% compared to the previous year.
• Analysts have mixed ratings for Genesis Energy, with price targets ranging from $19.00 to $20.00, reflecting a consensus target price of $19.50.

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) announced a quarterly dividend on Wednesday, October 8th, RTT News reports. Stockholders of record on Friday, October 31st will be paid a dividend of 0.165 per share by the pipeline company on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%.

Genesis Energy has a dividend payout ratio of 43.7% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Trading Down 1.3%

Genesis Energy stock opened at $15.87 on Wednesday. The firm's 50 day moving average price is $16.74 and its 200-day moving average price is $15.97. Genesis Energy has a 1 year low of $9.86 and a 1 year high of $17.77. The stock has a market cap of $1.94 billion, a P/E ratio of -3.12 and a beta of 1.15. The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%.The business had revenue of $377.35 million during the quarter. During the same quarter in the previous year, the business posted ($0.25) EPS. The company's revenue for the quarter was down 12.3% compared to the same quarter last year.

Analysts Set New Price Targets

GEL has been the subject of several analyst reports. Wells Fargo & Company upped their price target on Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen raised Genesis Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Royal Bank Of Canada boosted their target price on Genesis Energy from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Genesis Energy in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.50.

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.

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