Insider Buying: Genesis Energy, L.P. (GEL) VP Buys $99,975.00 in Stock

Genesis Energy, L.P. (NYSE:GEL) VP Ryan S. Sims purchased 4,300 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average price of $23.25 per share, for a total transaction of $99,975.00. Following the purchase, the vice president now owns 4,300 shares of the company’s stock, valued at approximately $99,975. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

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

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

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Several brokerages have recently commented on GEL. Barclays PLC lowered Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $33.00 to $31.00 in a research note on Tuesday, July 18th. Zacks Investment Research lowered Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Robert W. Baird upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and raised their price target for the company from $35.00 to $37.00 in a research note on Monday, August 7th. BidaskClub lowered Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada reaffirmed 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Genesis Energy, L.P. has an average rating of “Hold” and a consensus target price of $33.45.

A number of hedge funds and other institutional investors have recently modified their holdings of GEL. Ameriprise Financial Inc. boosted its holdings in Genesis Energy, L.P. by 0.7% in the first quarter. Ameriprise Financial Inc. now owns 58,355 shares of the pipeline company’s stock worth $1,891,000 after acquiring an additional 399 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Genesis Energy, L.P. by 40.6% in the first quarter. Alliancebernstein L.P. now owns 24,537 shares of the pipeline company’s stock worth $795,000 after acquiring an additional 7,085 shares in the last quarter. Bank of Montreal Can boosted its holdings in Genesis Energy, L.P. by 13.0% in the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after acquiring an additional 570 shares in the last quarter. Virtu Financial LLC boosted its holdings in Genesis Energy, L.P. by 184.4% in the second quarter. Virtu Financial LLC now owns 55,025 shares of the pipeline company’s stock worth $1,746,000 after acquiring an additional 35,675 shares in the last quarter. Finally, Sanders Morris Harris LLC boosted its holdings in Genesis Energy, L.P. by 8.2% in the second quarter. Sanders Morris Harris LLC now owns 53,000 shares of the pipeline company’s stock worth $1,682,000 after acquiring an additional 4,000 shares in the last quarter. 74.17% of the stock is owned by institutional investors and hedge funds.

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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