Genesis Energy, L.P. (NYSE:GEL) Plans Quarterly Dividend of $0.18

Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Thursday, January 15th. Investors of record on Friday, January 30th will be paid a dividend of 0.18 per share by the pipeline company on Friday, February 13th. This represents a c) annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, January 30th. This is a 9.1% increase from Genesis Energy’s previous quarterly dividend of $0.17.

Genesis Energy has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Genesis Energy has a payout ratio of 43.7% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Stock Performance

GEL stock traded up $0.37 during midday trading on Thursday, reaching $16.96. 256,421 shares of the company’s stock traded hands, compared to its average volume of 254,686. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 19.90. Genesis Energy has a 52-week low of $10.28 and a 52-week high of $17.77. The stock has a market cap of $2.08 billion, a P/E ratio of -3.53 and a beta of 0.84. The stock’s 50-day moving average is $15.70 and its 200 day moving average is $16.24.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, October 30th. The pipeline company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.18). The business had revenue of $414.00 million for the quarter. Genesis Energy had a negative net margin of 26.61% and a negative return on equity of 28.39%. Genesis Energy’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm posted ($0.32) earnings per share.

Hedge Funds Weigh In On Genesis Energy

Large investors have recently modified their holdings of the stock. Fulcrum Asset Management LLP purchased a new position in shares of Genesis Energy during the third quarter valued at $26,000. Mather Group LLC. bought a new position in Genesis Energy during the 3rd quarter worth about $30,000. Geneos Wealth Management Inc. purchased a new stake in shares of Genesis Energy in the 2nd quarter worth approximately $49,000. CWM LLC increased its holdings in shares of Genesis Energy by 126.5% in the 3rd quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock valued at $52,000 after acquiring an additional 1,735 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in shares of Genesis Energy in the 1st quarter worth $108,000. Institutional investors own 66.82% of the company’s stock.

About Genesis Energy

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.