Genesis Energy, L.P. (GEL) To Go Ex-Dividend on April 29th

Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.15 per share by the pipeline company on Wednesday, May 15th. This represents a $0.60 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Monday, April 29th.

Genesis Energy has decreased its dividend payment by an average of 15.7% per year over the last three years. Genesis Energy has a payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings.

Genesis Energy Trading Down 1.5 %

NYSE GEL opened at $11.80 on Friday. The firm has a market capitalization of $1.45 billion, a P/E ratio of 53.64 and a beta of 2.04. The business has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $11.43. Genesis Energy has a 12 month low of $8.05 and a 12 month high of $12.78. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 4.18.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.31). The company had revenue of $774.10 million during the quarter. Genesis Energy had a net margin of 3.71% and a return on equity of 13.34%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Genesis Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th.

Institutional Investors Weigh In On Genesis Energy

Several large investors have recently made changes to their positions in GEL. Barclays PLC increased its position in shares of Genesis Energy by 245.1% during the 4th quarter. Barclays PLC now owns 2,157 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 1,532 shares during the last quarter. State of Wyoming purchased a new stake in shares of Genesis Energy during the 2nd quarter valued at $27,000. Captrust Financial Advisors increased its position in shares of Genesis Energy by 90.8% during the 2nd quarter. Captrust Financial Advisors now owns 5,034 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 2,395 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Genesis Energy during the 3rd quarter valued at $46,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Genesis Energy during the 4th quarter valued at $46,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.