Genesis Energy, L.P. (gel) To Go Ex-Dividend on January 27th
Genesis Energy, L.P. (NYSE:gel) announced a quarterly dividend on Thursday, January 7th, MarketBeat reports. Shareholders of record on Friday, January 29th will be given a dividend of 0.655 per share on Friday, February 12th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 9.49%. The ex-dividend date of this dividend is Wednesday, January 27th. This is a positive change from Genesis Energy, L.P. s previous quarterly dividend of $0.49.
A number of research firms have weighed in on GEL. Credit Suisse boosted their target price on shares of Genesis Energy, L.P. from $68.00 to $69.00 and gave the stock an outperform rating in a research note on Wednesday, November 4th. Zacks Investment Research lowered shares of Genesis Energy, L.P. from a hold rating to a sell rating in a report on Friday, October 30th. Mitsubishi UFJ Financial Group Inc reiterated a neutral rating on shares of Genesis Energy, L.P. in a report on Tuesday, December 8th. Barclays reiterated a hold rating and set a $51.00 price target (down previously from $53.00) on shares of Genesis Energy, L.P. in a report on Monday, November 9th. Finally, Janney Montgomery Scott initiated coverage on shares of Genesis Energy, L.P. in a report on Thursday, October 22nd. They set a buy rating and a $48.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $52.89. Genesis Energy, L.P. (NYSE:GEL) opened at 27.61 on Tuesday. The company has a 50-day moving average of $32.50 and a 200 day moving average of $39.64. Genesis Energy, L.P. has a 12-month low of $22.71 and a 12-month high of $50.04. The firm has a market cap of $3.04 billion and a price-to-earnings ratio of 6.49. Genesis Energy, L.P. (NYSE:GEL) last posted its earnings results on Tuesday, November 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate of $0.41 by $0.15. The business had revenue of $572.30 million for the quarter, compared to analyst estimates of $797.58 million. During the same quarter in the previous year, the company earned $0.33 EPS. Genesis Energy, L.P. s quarterly revenue was down 40.6% on a year-over-year basis. Equities analysts expect that Genesis Energy, L.P. will post $1.11 EPS for the current fiscal year.
Genesis Energy, L.P. (NYSE:GEL) is a master limited partnership focused on the midstream segment of the oil and gas industry in the Gulf Coast region of the United States and the Gulf of Mexico. The Company operates through five segments: Onshore Pipeline Transportation, Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Onshore Pipeline Transportation segment is engaged in transporting crude oil and carbon dioxide. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil in the Gulf of Mexico. The Refinery Services segment provides services to refining operations primarily in Texas, Louisiana, Arkansas, Oklahoma and Utah. The Marine Transportation segment provides waterborne transportation of petroleum products and crude oil throughout North America. The Supply and Logistics segment provides supply and logistics services for crude oil and petroleum products, and carbon dioxide.
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