Genesis Energy, L.P. (NYSE:GEL) Plans Quarterly Dividend of $0.20

Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Wednesday, October 7th. Investors of record on Friday, October 30th will be paid a dividend of $0.20 per share by the pipeline company on Friday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Friday, October 30th.

Genesis Energy has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Genesis Energy has a payout ratio of 53.0% meaning its dividend is sufficiently covered by earnings.

Genesis Energy Stock Up 0.3%

Shares of NYSE GEL opened at $14.36 on Friday. Genesis Energy has a 52-week low of $13.55 and a 52-week high of $18.64. The company has a debt-to-equity ratio of 24.31, a quick ratio of 0.90 and a current ratio of 0.93. The stock has a market cap of $1.75 billion, a P/E ratio of 75.58 and a beta of 0.83. The firm has a 50 day moving average price of $15.32 and a 200 day moving average price of $15.68.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, August 6th. The pipeline company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.24. The company had revenue of $532.00 million for the quarter, compared to analyst estimates of $532.00 million. Genesis Energy had a net margin of 4.29% and a return on equity of 55.96%. During the same period last year, the business posted ($0.12) earnings per share.

Institutional Investors Weigh In On Genesis Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its stake in Genesis Energy by 1,714.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 13,155 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 12,430 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Genesis Energy by 25.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 15,601 shares of the pipeline company’s stock valued at $243,000 after purchasing an additional 3,140 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of Genesis Energy in the 1st quarter valued at about $313,000. Cetera Investment Advisers lifted its holdings in shares of Genesis Energy by 6.7% in the first quarter. Cetera Investment Advisers now owns 21,838 shares of the pipeline company’s stock valued at $389,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Genesis Energy during the first quarter worth about $473,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy Company Profile

Genesis Energy, L.P. is a Houston-based midstream energy company that provides transportation, handling, and logistics services for crude oil, natural gas, and related products. Its operations support energy producers, refiners, and industrial customers, with a significant presence in the Gulf of Mexico and along the U.S. Gulf Coast.

The company’s offshore pipeline transportation business includes systems that gather and transport crude oil and natural gas from offshore production areas to onshore facilities.