Quarterly Dividend of $0.49 Announced by Genesis Energy, L.P. (GEL)
Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Monday, January 14th. Stockholders of record on Friday, February 1st will be paid a dividend of $0.49 per share on Thursday, February 14th. This represents a $1.94 annualized dividend and a dividend yield of 5.20%. The ex-dividend date is Wednesday, January 30th. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.47.
A number of analysts have recently weighed in on GEL shares. Analysts at Deutsche Bank raised their price target on shares of Genesis Energy, L.P. from $36.00 to $39.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. On the ratings front, analysts at Zacks downgraded shares of Genesis Energy, L.P. from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 8th. They now have a $38.80 price target on the stock. Finally, analysts at Citigroup raised their price target on shares of Genesis Energy, L.P. to $38.00 in a research note to investors on Tuesday, November 13th.
Genesis Energy, L.P. (GEL) traded down 0.37% on Monday, hitting $37.33. Genesis Energy, L.P. (GEL) has a 1-year low of $26.70 and a 1-year high of $38.20. The stock’s 50-day moving average is currently $35.50. The company has a market cap of $3.031 billion and a price-to-earnings ratio of 36.95.
Genesis Energy, L.P. last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.10. The company had revenue of $942.30 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in 2012, the company posted $0.27 earnings per share. Genesis Energy, L.P.’s revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that Genesis Energy, L.P. (GEL) will post $1.28 earnings per share for the current fiscal year.
Genesis Energy, L.P. (Genesis) is a limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States, primarily Texas, Louisiana, Arkansas, Mississippi, Alabama and Florida.
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