New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 10, 2014
07:01 EDTGELGenesis Energy increases quarterly dividend to 53.5c per share
Genesis Energy, L.P. will pay a regular quarterly distribution of 53.5c per common unit for the quarter ended December 31. The distribution will be paid on February 14, 2014, to common unitholders of record at the close of business on January 31, 2014. This distribution represents an increase of approximately 10.3% over 4Q12 quarterly distribution of 48.5c per unit, and an approximate 2.4% increase over the distribution paid with respect to 3Q13. This is the thirty-fourth consecutive quarter in which Genesis has increased its quarterly distribution. During this period, twenty-nine of those quarterly increases have been 10% or greater year-over-year.
News For GEL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2015
07:09 EDTGELGenesis Energy reports Q2 EPS 12c, consensus 31c
Reports Q2 revenue $656.32M, consensus $707.52M.
July 24, 2015
07:10 EDTGELGenesis Energy completes acquisition of Enterprise offshore pipeline
Subscribe for More Information
July 20, 2015
10:00 EDTGELOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
08:09 EDTGELGenesis Energy acquisition of pipeline stakes positive, says RBC Capital
Subscribe for More Information
07:27 EDTGELGenesis Energy reports full exercise of underwriters' option to purchase shares
Subscribe for More Information
05:27 EDTGELGenesis Energy upgraded to Outperform from Market Perform at Wells Fargo
Subscribe for More Information
July 17, 2015
13:19 EDTGELGenesis Energy price target raised to $68 on acquisition at Credit Suisse
Subscribe for More Information
06:09 EDTGELGenesis Energy 9M share Secondary priced at $43.77
Wells Fargo, BofA/Merrill, Citi, Deutsche Bank, Barclays, Credit Suisse, UBS, Raymond James, RBC Capital and BMO Capital acted as joint book running managers for the offering.
July 16, 2015
06:38 EDTGELGenesis Energy files to sell 9M common units for limited partners
Genesis Energy intends to use the net proceeds from the offering to fund a portion of the purchase price for the recently announced pending acquisition of the offshore pipeline and services business of Enterprise Products Operating LLC and its affiliates. Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, Barclays, Credit Suisse, UBS Investment Bank, Raymond James, RBC Capital Markets, and BMO Capital Markets are acting as joint book-running managers for the offering and Baird, Oppenheimer & Co. and Janney Montgomery Scott are acting as co-managers.
06:32 EDTGELGenesis Energy to acquire Enterprise offshore pipeline and services business
Genesis Energy (GEL) announced that it has entered into a purchase and sale agreement with an affiliate of Enterprise Products (EPD) to acquire the offshore pipeline and services business of Enterprise and its affiliates for approximately $1.5B. All closing conditions, other than those that are to be satisfied at the closing of the acquisition, have been satisfied or waived. The acquisition is expected to close in July 2015. The Enterprise offshore business assets include approximately 2,350 miles of offshore crude oil and natural gas pipelines and six offshore hub platforms, including a 36% interest in the Poseidon Oil Pipeline System, a 50% interest in the Southeast Keathley Canyon Oil Pipeline System and a 50% interest in the Cameron Highway Oil Pipeline System. The Enterprise offshore business assets will complement and substantially expand our existing offshore pipelines segment, which is primarily comprised of our interests in three oil pipelines—Poseidon, SEKCO, and CHOPS. The Enterprise offshore business generates a substantial majority of its cash flow under long-term, fee-based contracts with high-quality customers and no direct exposure to commodity prices. Genesis Energy expects that the shippers on the crude oil pipelines in the Gulf of Mexico, which are mostly integrated and large independent energy companies, will continue to explore for and develop capital intensive, large-reservoir, and long-lived properties throughout the Gulf of Mexico even in the current lower commodity price environment. Genesis Energy believes that the continued exploration and development in the Gulf of Mexico combined with increased footprint after the acquisition of the Enterprise offshore business will provide the company with additional opportunities to develop organic growth projects in the offshore pipeline segment.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use