Genesis Energy, L.P. (NYSE:GEL) to Issue $0.15 Quarterly Dividend

Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Wednesday, July 10th, NASDAQ reports. Stockholders of record on Wednesday, July 31st will be given a dividend of 0.15 per share by the pipeline company on Wednesday, August 14th. This represents a $0.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Wednesday, July 31st.

Genesis Energy has decreased its dividend payment by an average of 15.7% annually over the last three years. Genesis Energy has a payout ratio of 47.6% indicating that its dividend is sufficiently covered by earnings.

Genesis Energy Stock Down 0.1 %

Shares of GEL opened at $14.25 on Tuesday. The firm has a market cap of $1.75 billion, a P/E ratio of 41.91 and a beta of 2.11. Genesis Energy has a 12-month low of $8.05 and a 12-month high of $15.17. The company’s 50-day moving average price is $13.64 and its 200 day moving average price is $12.39. The company has a current ratio of 1.05, a quick ratio of 0.90 and a debt-to-equity ratio of 4.39.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, May 2nd. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.10). The company had revenue of $770.11 million during the quarter. Genesis Energy had a net margin of 4.14% and a return on equity of 14.70%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.21) EPS.

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.