Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Friday, January 11th, Wall Street Journal reports. Stockholders of record on Thursday, January 31st will be paid a dividend of 0.55 per share by the pipeline company on Thursday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.44%. The ex-dividend date of this dividend is Wednesday, January 30th. This is an increase from Genesis Energy’s previous quarterly dividend of $0.54.

Genesis Energy has decreased its dividend by an average of 5.3% annually over the last three years. Genesis Energy has a payout ratio of 654.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Genesis Energy to earn $0.70 per share next year, which means the company may not be able to cover its $2.16 annual dividend with an expected future payout ratio of 308.6%.

Genesis Energy stock opened at $21.08 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.77 and a quick ratio of 1.57. Genesis Energy has a 52 week low of $17.55 and a 52 week high of $25.87. The stock has a market cap of $2.68 billion, a P/E ratio of 19.89 and a beta of 1.23.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, November 1st. The pipeline company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.35). Genesis Energy had a return on equity of 5.92% and a net margin of 1.16%. The firm had revenue of $745.30 million for the quarter, compared to analyst estimates of $736.85 million. During the same period last year, the firm earned $0.01 EPS. The company’s revenue for the quarter was up 53.3% compared to the same quarter last year. On average, equities analysts anticipate that Genesis Energy will post -0.28 EPS for the current fiscal year.

A number of equities research analysts recently commented on GEL shares. ValuEngine raised Genesis Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Barclays decreased their target price on Genesis Energy from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Friday, November 2nd. Robert W. Baird decreased their target price on Genesis Energy from $26.00 to $25.00 and set a “hold” rating for the company in a report on Friday, November 2nd. Zacks Investment Research raised Genesis Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Royal Bank of Canada raised Genesis Energy from a “sector perform” rating to an “outperform” rating and set a $29.00 target price for the company in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.75.

In related news, VP Chad Anthony Landry purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was bought at an average cost of $19.75 per share, with a total value of $197,500.00. Following the completion of the acquisition, the vice president now owns 20,000 shares of the company’s stock, valued at approximately $395,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.72% of the company’s stock.

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About Genesis Energy

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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Dividend History for Genesis Energy (NYSE:GEL)

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