Genesis Energy, L.P. (NYSE:GEL) Director James E. Davison bought 79,031 shares of the stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $21.56 per share, for a total transaction of $1,703,908.36. Following the purchase, the director now owns 2,405,994 shares in the company, valued at $51,873,230.64. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Genesis Energy, L.P. (GEL) traded up $0.59 during mid-day trading on Thursday, hitting $22.31. The stock had a trading volume of 559,861 shares, compared to its average volume of 541,268. Genesis Energy, L.P. has a one year low of $20.43 and a one year high of $37.88. The firm has a market capitalization of $2,736.30, a price-to-earnings ratio of 24.27 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 1.80.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.96%. Genesis Energy’s dividend payout ratio (DPR) is presently 281.69%.
Several equities analysts have weighed in on GEL shares. Robert W. Baird set a $29.00 target price on Genesis Energy and gave the company a “buy” rating in a research note on Friday, November 17th. Zacks Investment Research raised Genesis Energy from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Thursday, November 9th. UBS reduced their price target on Genesis Energy from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Janney Montgomery Scott set a $30.00 price target on Genesis Energy and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Barclays upgraded Genesis Energy from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $31.00 to $27.00 in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $33.45.
Hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its holdings in shares of Genesis Energy by 342.2% during the third quarter. Chicago Partners Investment Group LLC now owns 4,351 shares of the pipeline company’s stock worth $115,000 after buying an additional 3,367 shares during the last quarter. Ffcm LLC increased its position in shares of Genesis Energy by 205.4% during the second quarter. Ffcm LLC now owns 3,573 shares of the pipeline company’s stock valued at $116,000 after purchasing an additional 2,403 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Genesis Energy by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock valued at $124,000 after purchasing an additional 271 shares during the period. Pathstone Family Office LLC bought a new stake in shares of Genesis Energy during the second quarter valued at approximately $133,000. Finally, Bank of Montreal Can increased its position in shares of Genesis Energy by 13.0% during the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock valued at $158,000 after purchasing an additional 570 shares during the period. Institutional investors own 73.52% of the company’s stock.
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About Genesis Energy
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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