Alps Advisors Inc. increased its position in Genesis Energy, L.P. (NYSE:GEL) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,915,927 shares of the pipeline company’s stock after purchasing an additional 202,132 shares during the period. Genesis Energy accounts for about 1.4% of Alps Advisors Inc.’s holdings, making the stock its 19th biggest holding. Alps Advisors Inc. owned 7.28% of Genesis Energy worth $199,271,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of GEL. The Manufacturers Life Insurance Company grew its holdings in shares of Genesis Energy by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after acquiring an additional 271 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Genesis Energy by 342.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,351 shares of the pipeline company’s stock valued at $115,000 after buying an additional 3,367 shares during the last quarter. Advisor Group Inc. grew its holdings in Genesis Energy by 9.4% during the 2nd quarter. Advisor Group Inc. now owns 5,453 shares of the pipeline company’s stock valued at $173,000 after buying an additional 470 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Genesis Energy during the 3rd quarter valued at $189,000. Finally, Green Square Capital LLC acquired a new stake in shares of Genesis Energy during the second quarter worth $260,000. 74.36% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut Genesis Energy from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. ValuEngine raised Genesis Energy from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Robert W. Baird set a $29.00 target price on Genesis Energy and gave the stock a “buy” rating in a research report on Friday, November 17th. Barclays decreased their price target on Genesis Energy from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, November 6th. Finally, UBS Group decreased their price target on Genesis Energy from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Genesis Energy has a consensus rating of “Hold” and a consensus price target of $33.55.
Shares of Genesis Energy, L.P. (GEL) opened at $20.99 on Tuesday. The company has a market capitalization of $2,516.96, a P/E ratio of 29.56 and a beta of 1.07. Genesis Energy, L.P. has a twelve month low of $19.85 and a twelve month high of $37.63. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $2.04 annualized dividend and a dividend yield of 9.72%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.50. Genesis Energy’s dividend payout ratio is currently 287.33%.
In other Genesis Energy news, insider Edward T. Flynn acquired 4,681 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $21.32 per share, for a total transaction of $99,798.92. Following the completion of the acquisition, the insider now owns 15,691 shares of the company’s stock, valued at approximately $334,532.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth M. Jastrow II acquired 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was acquired at an average price of $22.32 per share, with a total value of $334,800.00. Following the completion of the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $1,116,000. The disclosure for this purchase can be found here. Insiders acquired 199,212 shares of company stock worth $4,314,087 in the last ninety days. 0.72% of the stock is owned by corporate insiders.
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Genesis Energy Profile
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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