Genesis Energy, L.P. (GEL) Plans Quarterly Dividend of $0.57
Genesis Energy, L.P. (NYSE:GEL) declared a quarterly dividend on Thursday, July 10th, Stock Ratings News reports. Stockholders of record on Friday, August 1st will be given a dividend of 0.565 per share on Thursday, August 14th. This represents a $2.26 dividend on an annualized basis and a yield of 4.15%.
A number of research firms have recently commented on GEL. Analysts at Zacks downgraded shares of Genesis Energy, L.P. from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $53.10 price target on the stock. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Genesis Energy, L.P. in a research note on Monday, May 5th. They now have a $61.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.87.
Genesis Energy, L.P. (NYSE:GEL) opened at 54.46 on Thursday. Genesis Energy, L.P. has a 52 week low of $45.81 and a 52 week high of $57.47. The stock’s 50-day moving average is $55.38 and its 200-day moving average is $54.59. The company has a market cap of $4.830 billion and a P/E ratio of 50.14.
Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.35 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. Analysts expect that Genesis Energy, L.P. will post $1.50 EPS 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, Florida and in the Gulf of Mexico.
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