Municipal Employees Retirement System of Michigan purchased a new stake in Genesis Energy, L.P. (NYSE:GEL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 283,840 shares of the pipeline company’s stock, valued at approximately $5,243,000. Municipal Employees Retirement System of Michigan owned about 0.23% of Genesis Energy as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. MetLife Investment Advisors LLC boosted its holdings in Genesis Energy by 29.3% in the fourth quarter. MetLife Investment Advisors LLC now owns 293,256 shares of the pipeline company’s stock valued at $5,416,000 after acquiring an additional 66,410 shares during the last quarter. Abacus Planning Group Inc. bought a new position in Genesis Energy in the fourth quarter valued at about $1,394,000. Tortoise Index Solutions LLC boosted its holdings in Genesis Energy by 110.2% in the fourth quarter. Tortoise Index Solutions LLC now owns 39,269 shares of the pipeline company’s stock valued at $725,000 after acquiring an additional 20,588 shares during the last quarter. Hsbc Holdings PLC bought a new position in Genesis Energy in the fourth quarter valued at about $4,331,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Genesis Energy by 3.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,645,487 shares of the pipeline company’s stock valued at $30,392,000 after buying an additional 52,598 shares during the period. Institutional investors and hedge funds own 75.55% of the company’s stock.
GEL has been the topic of several analyst reports. ValuEngine lowered Genesis Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th. Zacks Investment Research lowered Genesis Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, January 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Genesis Energy has a consensus rating of “Hold” and an average target price of $27.75.
NYSE:GEL opened at $23.28 on Wednesday. Genesis Energy, L.P. has a 1-year low of $17.55 and a 1-year high of $25.52. The company has a current ratio of 1.33, a quick ratio of 1.11 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -291.00 and a beta of 1.43.
Genesis Energy (NYSE:GEL) last released its earnings results on Wednesday, February 20th. The pipeline company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.06. The firm had revenue of $689.30 million for the quarter, compared to analyst estimates of $737.40 million. Genesis Energy had a positive return on equity of 5.16% and a negative net margin of 0.21%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Research analysts anticipate that Genesis Energy, L.P. will post 0.78 EPS for the current year.
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About Genesis Energy
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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