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

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) declared a quarterly dividend on Thursday, July 10th, RTT News reports. Investors of record on Thursday, July 31st will be paid 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 yield of 3.87%. The ex-dividend date is Thursday, July 31st.

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

Genesis Energy Stock Down 2.0%

NYSE GEL traded down $0.35 during midday trading on Friday, hitting $17.07. 184,062 shares of the company traded hands, compared to its average volume of 513,764. Genesis Energy has a 52 week low of $9.86 and a 52 week high of $17.59. The company's 50-day simple moving average is $16.18 and its 200-day simple moving average is $13.79. The company has a market cap of $2.09 billion, a PE ratio of -3.28 and a beta of 1.05. The company has a debt-to-equity ratio of 18.33, a current ratio of 1.48 and a quick ratio of 1.42.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share 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 company had revenue of $398.31 million for the quarter. During the same period in the prior year, the business earned ($0.09) EPS. Genesis Energy's revenue was down 8.3% compared to the same quarter last year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Genesis Energy

Several institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp purchased a new stake in Genesis Energy in the first quarter valued at approximately $108,000. Royal Bank of Canada lifted its stake in Genesis Energy by 220.6% during the 1st 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 during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Genesis Energy by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock valued at $63,934,000 after acquiring an additional 478,530 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

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.