Last $55.32 USD
Change Today +0.56 / 1.02%
Volume 134.7K
As of 8:04 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

genesis energy l.p. (GEL) Snapshot

Open
$54.97
Previous Close
$54.76
Day High
$55.76
Day Low
$54.59
52 Week High
06/5/14 - $57.47
52 Week Low
08/7/13 - $45.81
Market Cap
4.9B
Average Volume 10 Days
185.8K
EPS TTM
$1.08
Shares Outstanding
88.7M
EX-Date
07/30/14
P/E TM
51.2x
Dividend
$2.26
Dividend Yield
3.83%
Current Stock Chart for GENESIS ENERGY L.P. (GEL)

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genesis energy l.p. (GEL) Details

Genesis Energy, L.P. operates in the midstream segment of the oil and gas industry in the Gulf Coast region of the United States. The company operates in three segments: Pipeline Transportation, Refinery Services, and Supply and Logistics. The Pipeline Transportation segment is involved in the transportation of crude oil and carbon dioxide (CO2). It owns interests in 3 onshore crude oil pipeline systems with approximately 460 miles of pipe located primarily in Alabama, Florida, Mississippi, and Texas; and various offshore crude oil pipeline systems with approximately 1,050 miles of pipe located offshore in the Gulf of Mexico. This segment also owns interests in 2 CO2 pipelines with approximately 270 miles of pipe. The Refinery Services segment is involved in the processing of high sulfur gas streams to remove sulfur for refineries. This segment primarily provides services to 10 refining operations located primarily in Texas, Louisiana, Arkansas, Oklahoma, and Utah; and sells the by-product sodium hydrosulfide and caustic soda to industrial and commercial companies involved in the mining of copper, molybdenum, and other base metals, as well as in the production of pulp and paper. The Supply and Logistics segment provides services primarily to Gulf Coast oil and gas producers and refineries through a combination of purchasing, transporting, storing, blending, and marketing of crude oil and refined products, such as fuel oil, asphalt, and other heavy refined products. This segment operates a suite of approximately 300 trucks, 400 trailers, 580 rail cars, and terminals and tankage with 2.4 million barrels of storage capacity in various locations along the Gulf Coast; 63 barges with a combined transportation capacity of 2.4 million barrels of heavy refined products; and 32 push/tow boats. Genesis Energy, LLC serves as a general partner of the company. Genesis Energy, L.P. was founded in 1996 and is based in Houston, Texas.

1,200 Employees
Last Reported Date: 02/27/14
Founded in 1996

genesis energy l.p. (GEL) Top Compensated Officers

Chairman of The Board of Genesis Energy LLC a...
Total Annual Compensation: $517.3K
Chief Financial Officer of Genesis Energy LLC
Total Annual Compensation: $446.9K
Senior Vice President of Genesis Energy Llc
Total Annual Compensation: $561.2K
Vice President of Genesis Energy LLC
Total Annual Compensation: $267.3K
Compensation as of Fiscal Year 2013.

genesis energy l.p. (GEL) Key Developments

Genesis Energy, L.P. Increases Quarterly Distribution, Payable on August 14, 2014

Genesis Energy LP announced that it will pay a regular quarterly distribution of $0.565 per common unit for the quarter ended June 30, 2014. The distribution will be paid on August 14, 2014, to common unit holders of record at the close of business on August 1, 2014. This distribution represents an increase of approximately 10.8% over the second quarter 2013 quarterly distribution of $0.51 per unit, and an approximate 2.7% increase over the distribution paid with respect to the first quarter of 2014.

Genesis Energy L.P. Enters into Fourth Amended and Restated Credit Agreement

On June 30, 2014, Genesis Energy L.P. entered in a Fourth Amended and Restated Credit Agreement among the company, as borrower, Wells Fargo Bank, National Association, as administrative agent, Bank of America N.A. and Bank of Montreal as co-syndication agents, U.S. Bank National Association as documentation agent, and each of the other lenders party thereto. The new credit agreement replaces the third amended and restated credit agreement, dated as of July 25, 2012, among the company, as borrower, the administrative agent and the other lenders party thereto. The new credit agreement provides for a $1 billion senior secured revolving credit facility, with the ability to increase the aggregate size of the facility up to $1.5 billion subject to lender consent and certain other customary conditions. The new credit agreement matures on July 25, 2019, subject to extension at the request of the company for one additional year on up to two occasions. All borrowings under the new credit agreement bear interest, at its option, either at an alternate base rate or a eurodollar rate. The alternate base rate is equal to the sum of (a) the greatest of the prime rate established by the administrative agent, the federal funds effective rate plus of 1% and the LIBOR rate for a one-month maturity plus 1% and (b) the applicable margin. The eurodollar rate is equal to the sum of (a) the LIBOR rate for the applicable interest period multiplied by the statutory reserve rate and (b) the applicable margin. The applicable margin varies from 0.50% to 1.50% for alternate base rate borrowings and from 1.50% to 2.50% for eurodollar rate borrowings, depending on its leverage ratio. The company is also required to pay a commitment fee of that varies from 0.250% to 0.375% per annum, depending on its leverage ratio, on the unused committed amount. The new credit agreement contains customary affirmative and negative covenants and events of default similar to those in its Old Credit Agreement. In particular, covenants in the new credit agreement require the company to meet certain financial metrics, including a maximum leverage ratio, a maximum senior secured leverage ratio, and a minimum interest coverage ratio. The new credit agreement is secured by a guarantee from substantially all of its restricted subsidiaries and by liens on a substantial portion of its assets. Upon an event of default, the administrative agent, at the request of lenders holding greater than 50% of the combined revolving credit exposure and unused committed amount under the new credit agreement, may accelerate the amounts due under the new credit agreement.

Genesis Energy LP Presents at Credit Suisse MLP & Energy Logistics Conference, Jun-10-2014

Genesis Energy LP Presents at Credit Suisse MLP & Energy Logistics Conference, Jun-10-2014 . Venue: New York, New York, United States. Speakers: Bob Deere, CFO.

 

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Industry Analysis

GEL

Industry Average

Valuation GEL Industry Range
Price/Earnings 51.6x
Price/Sales 1.2x
Price/Book 4.5x
Price/Cash Flow 30.0x
TEV/Sales 0.8x
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