Insider Buying: Genesis Energy, L.P. (GEL) Director Acquires $230,900.00 in Stock

Genesis Energy, L.P. (NYSE:GEL) Director Sharilyn S. Gasaway bought 10,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $23.09 per share, with a total value of $230,900.00. Following the completion of the transaction, the director now owns 278,364 shares in the company, valued at approximately $6,427,424.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Genesis Energy, L.P. (NYSE GEL) opened at $22.76 on Friday. The firm has a market capitalization of $2,788.99, a PE ratio of 24.74, a PEG ratio of 2.83 and a beta of 1.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.62 and a quick ratio of 1.09. Genesis Energy, L.P. has a one year low of $22.71 and a one year high of $37.88.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, October 30th. This represents a $2.00 annualized dividend and a dividend yield of 8.79%. Genesis Energy, L.P.’s payout ratio is 281.69%.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEL. Ffcm LLC grew its stake in Genesis Energy, L.P. by 205.4% during the second quarter. Ffcm LLC now owns 3,573 shares of the pipeline company’s stock worth $116,000 after purchasing an additional 2,403 shares during the period. The Manufacturers Life Insurance Company grew its stake in Genesis Energy, L.P. by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after purchasing an additional 271 shares during the period. Pathstone Family Office LLC acquired a new stake in Genesis Energy, L.P. during the second quarter worth approximately $133,000. Bank of Montreal Can grew its stake in Genesis Energy, L.P. by 13.0% during the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after purchasing an additional 570 shares during the period. Finally, Penserra Capital Management LLC grew its stake in Genesis Energy, L.P. by 188.8% during the second quarter. Penserra Capital Management LLC now owns 5,291 shares of the pipeline company’s stock worth $166,000 after purchasing an additional 3,459 shares during the period. 74.17% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on GEL shares. UBS AG dropped their price objective on Genesis Energy, L.P. from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Barclays PLC dropped their price objective on Genesis Energy, L.P. from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Monday, November 6th. Zacks Investment Research downgraded Genesis Energy, L.P. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada restated a “hold” rating and set a $34.00 price objective on shares of Genesis Energy, L.P. in a research report on Wednesday, September 27th. Finally, Robert W. Baird upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $35.00 to $37.00 in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $33.45.

About Genesis Energy, L.P.

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

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