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

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) announced a quarterly dividend on Thursday, July 10th, RTT News reports. Investors of record on Thursday, July 31st will be given a dividend of 0.165 per share by the pipeline company on Thursday, August 14th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, July 31st.

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

Genesis Energy Price Performance

Shares of NYSE GEL traded down $0.35 during midday trading on Friday, reaching $17.07. The company's stock had a trading volume of 184,062 shares, compared to its average volume of 512,532. The company has a current ratio of 1.48, a quick ratio of 1.42 and a debt-to-equity ratio of 18.33. The company has a 50 day moving average price of $16.18 and a 200 day moving average price of $13.75. Genesis Energy has a one year low of $9.86 and a one year high of $17.59. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -3.28 and a beta of 1.05.

Genesis Energy (NYSE:GEL - Get Free Report) last released its earnings results on Thursday, May 8th. The pipeline company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.37). Genesis Energy had a negative return on equity of 19.28% and a negative net margin of 20.98%. The business had revenue of $398.31 million during the quarter. During the same quarter in the prior year, the firm earned ($0.09) EPS. Genesis Energy's quarterly revenue was down 8.3% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp purchased a new position in Genesis Energy during the first quarter valued at approximately $108,000. Royal Bank of Canada grew its position 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 worth $2,788,000 after acquiring an additional 122,271 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Genesis Energy by 13.3% in 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 in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GEL. Wall Street Zen upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Wells Fargo & Company upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $15.00 to $18.00 in a report on Monday, March 17th. Finally, Royal Bank Of Canada boosted their price target on shares of Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Monday, March 17th.

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.