Genesis Energy, L.P. (NYSE:GEL) Shareholders to Get $0.20 Quarterly Dividend

Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Thursday, October 8th. Shareholders 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 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, October 30th.

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

Genesis Energy Price Performance

NYSE GEL traded up $0.04 during trading hours on Thursday, reaching $14.36. 215,515 shares of the company’s stock were exchanged, compared to its average volume of 287,294. The firm has a fifty day moving average of $15.34 and a 200-day moving average of $15.70. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 24.31. The stock has a market cap of $1.75 billion, a PE ratio of 75.58 and a beta of 0.83. Genesis Energy has a one year low of $13.55 and a one year high of $18.64.

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

About Genesis Energy

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.