Genesis Energy, L.P. Declares Quarterly Dividend of $0.15 (NYSE:GEL)

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.15 per share by the pipeline company on Wednesday, May 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Monday, April 29th.

Genesis Energy has decreased its dividend by an average of 15.7% per year over the last three years. Genesis Energy has a payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Price Performance

GEL stock traded down $0.18 during trading hours on Friday, hitting $11.80. 484,074 shares of the stock traded hands, compared to its average volume of 356,425. The stock has a 50-day simple moving average of $11.27 and a 200 day simple moving average of $11.43. The company has a market cap of $1.45 billion, a P/E ratio of 53.64 and a beta of 2.04. Genesis Energy has a one year low of $8.05 and a one year high of $12.78. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 4.18.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.31). The business had revenue of $774.10 million for the quarter. Genesis Energy had a net margin of 3.71% and a return on equity of 13.34%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Genesis Energy from a "buy" rating to a "hold" rating in a research report on Tuesday, January 9th.

Institutional Trading of Genesis Energy

Several institutional investors and hedge funds have recently bought and sold shares of GEL. BNP Paribas Arbitrage SNC increased its position in shares of Genesis Energy by 1.4% in the third quarter. BNP Paribas Arbitrage SNC now owns 83,182 shares of the pipeline company's stock worth $765,000 after acquiring an additional 1,128 shares in the last quarter. Barclays PLC grew its position in Genesis Energy by 245.1% during the 4th quarter. Barclays PLC now owns 2,157 shares of the pipeline company's stock worth $25,000 after purchasing an additional 1,532 shares in the last quarter. Stifel Financial Corp raised its stake in Genesis Energy by 18.6% during the 2nd quarter. Stifel Financial Corp now owns 12,769 shares of the pipeline company's stock valued at $122,000 after purchasing an additional 2,003 shares during the period. Arrow Investment Advisors LLC lifted its holdings in shares of Genesis Energy by 10.7% in the first quarter. Arrow Investment Advisors LLC now owns 20,812 shares of the pipeline company's stock valued at $234,000 after purchasing an additional 2,006 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Genesis Energy by 90.8% in the second quarter. Captrust Financial Advisors now owns 5,034 shares of the pipeline company's stock worth $40,000 after buying an additional 2,395 shares during the period. 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.