Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Thursday, October 6th. Shareholders of record on Friday, October 28th will be paid a dividend of 0.70 per share on Monday, November 14th. This represents a $2.80 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date of this dividend is Wednesday, October 26th. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.69.

Shares of Genesis Energy, L.P. (NYSE:GEL) traded down 1.04% during mid-day trading on Thursday, reaching $36.25. The company’s stock had a trading volume of 303,428 shares. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of 8.82 and a beta of 1.09. Genesis Energy, L.P. has a 12 month low of $19.55 and a 12 month high of $44.32. The company’s 50-day moving average is $35.88 and its 200 day moving average is $35.58.

Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.15. The firm had revenue of $446 million for the quarter, compared to analysts’ expectations of $585.96 million. Genesis Energy, L.P.’s quarterly revenue was down 32.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. On average, equities analysts anticipate that Genesis Energy, L.P. will post $1.30 EPS for the current year.

Dividend History for Genesis Energy, L.P. (NYSE:GEL)

GEL has been the subject of a number of recent analyst reports. Citigroup Inc. upgraded shares of Genesis Energy, L.P. from a “neutral” rating to a “buy” rating and reduced their price target for the company from $48.00 to $46.00 in a research report on Friday, July 1st. Credit Suisse Group AG reiterated a “neutral” rating on shares of Genesis Energy, L.P. in a research report on Monday, August 15th. Wells Fargo & Co. upgraded shares of Genesis Energy, L.P. from a “market perform” rating to an “outperform” rating in a research report on Monday, July 18th. Barclays PLC upped their target price on shares of Genesis Energy, L.P. from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. Finally, Janney Montgomery Scott reiterated a “buy” rating and issued a $44.00 target price (up from $32.00) on shares of Genesis Energy, L.P. in a research report on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $41.25.

A number of hedge funds have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its position in shares of Genesis Energy, L.P. by 11.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,420,244 shares of the company’s stock valued at $323,085,000 after buying an additional 864,257 shares during the period. Credit Suisse AG increased its position in shares of Genesis Energy, L.P. by 137.6% in the second quarter. Credit Suisse AG now owns 241,554 shares of the company’s stock valued at $9,268,000 after buying an additional 139,869 shares during the period. Raymond James & Associates increased its position in shares of Genesis Energy, L.P. by 5.5% in the second quarter. Raymond James & Associates now owns 220,570 shares of the company’s stock valued at $8,463,000 after buying an additional 11,426 shares during the period. Texas Yale Capital Corp. increased its position in shares of Genesis Energy, L.P. by 3.6% in the second quarter. Texas Yale Capital Corp. now owns 182,615 shares of the company’s stock valued at $7,007,000 after buying an additional 6,400 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Genesis Energy, L.P. during the second quarter valued at approximately $1,365,000.

About Genesis Energy, L.P.

Genesis Energy, L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through five segments: Offshore Pipeline Transportation, Onshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

5 Day Chart for NYSE:GEL

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