Genesis Energy, L.P. (NYSE:GEL) to Issue Dividend Increase - $0.20 Per Share

Key Points

• Genesis Energy declared a quarterly dividend of $0.20 per share, up 11.1% from the prior $0.18 payment. The dividend is payable on August 14 to shareholders of record on July 31, with an implied yield of about 5.4%.
• The company’s stock rose 3.4% to $14.92 on the day of the announcement. Shares have traded between a 52-week low of $13.75 and high of $18.64.
• Genesis Energy recently reported a Q1 earnings miss, posting -$0.06 EPS versus expectations for $0.16, though revenue increased 12.1% year over year. Analysts still hold a Moderate Buy consensus with an average price target of $19.00.

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) declared a quarterly dividend on Thursday, July 16th. Stockholders of record on Friday, July 31st will be given a dividend of 0.20 per share by the pipeline company on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date 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 increased its dividend annually for the last 1 consecutive years. Genesis Energy has a payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings.

Genesis Energy Trading Up 3.4%

NYSE:GEL traded up $0.49 on Thursday, hitting $14.92. 180,099 shares of the stock were exchanged, compared to its average volume of 298,056. The stock has a fifty day moving average of $15.13 and a 200-day moving average of $16.47. Genesis Energy has a fifty-two week low of $13.75 and a fifty-two week high of $18.64. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 25.62. The stock has a market cap of $1.83 billion, a PE ratio of -78.55 and a beta of 0.62.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.22). Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.During the same quarter last year, the business posted ($4.06) earnings per share. The business's revenue was up 12.1% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GEL shares. Weiss Ratings downgraded shares of Genesis Energy from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, June 17th. Wells Fargo & Company reduced their target price on Genesis Energy from $19.00 to $18.00 and set an "overweight" rating for the company in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Genesis Energy presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

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.

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