Genesis Energy, L.P. (GEL) Plans Quarterly Dividend of $0.52
Genesis Energy, L.P. (NYSE:GEL) announced a quarterly dividend on Wednesday, October 9th, ARN reports. Investors of record on Friday, November 1st will be paid a dividend of $0.5225 per share on Thursday, November 14th. This represents a $2.09 annualized dividend and a dividend yield of 4.20%.
GEL has been the subject of a number of recent research reports. Analysts at Barclays Capital reiterated a “buy” rating on shares of Genesis Energy, L.P. in a research note to investors on Monday, September 16th. They now have a $54.00 price target on the stock. On the ratings front, analysts at Deutsche Bank raised their price target on shares of Genesis Energy, L.P. from $46.00 to $52.00 in a research note to investors on Monday, September 16th. They now have a “hold” rating on the stock. Finally, analysts at Oppenheimer initiated coverage on shares of Genesis Energy, L.P. in a research note to investors on Tuesday, September 3rd. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $51.50.
Genesis Energy, L.P. (NYSE:GEL) opened at 49.79 on Wednesday. Genesis Energy, L.P. has a 52 week low of $30.86 and a 52 week high of $55.99. The stock’s 50-day moving average is $49.54 and its 200-day moving average is $49.88. The company has a market cap of $4.130 billion and a price-to-earnings ratio of 37.44.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.33 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.02. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts predict that Genesis Energy, L.P. will post $1.43 earnings per share for the current fiscal year.
Genesis Energy, L.P. (NYSE:GEL) is a limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States, primarily Texas, Louisiana, Arkansas, Mississippi, Alabama and Florida.
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