Invesco Ltd. Increases Stock Position in Genesis Energy, L.P. (NYSE:GEL)

Invesco Ltd. grew its holdings in Genesis Energy, L.P. (NYSE:GEL) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,390,648 shares of the pipeline company’s stock after purchasing an additional 178,369 shares during the quarter. Invesco Ltd. owned approximately 0.15% of Genesis Energy worth $185,929,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Stifel Financial Corp grew its holdings in Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after buying an additional 1,819 shares during the last quarter. Captrust Financial Advisors increased its position in Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after purchasing an additional 900 shares in the last quarter. Mutual Advisors LLC raised its stake in Genesis Energy by 101.8% in the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $341,000 after purchasing an additional 16,099 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Genesis Energy in the 4th quarter valued at about $404,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Stock Up 1.7 %

GEL opened at $13.03 on Friday. Genesis Energy, L.P. has a 12 month low of $9.86 and a 12 month high of $16.44. The business has a 50-day moving average of $13.23 and a two-hundred day moving average of $12.10. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -10.50 and a beta of 1.39.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The company had revenue of $725.55 million during the quarter.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.07%. Genesis Energy’s payout ratio is -53.23%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GEL. Royal Bank of Canada boosted their price objective on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, March 17th. Wells Fargo & Company raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $15.00 to $18.00 in a research note on Monday, March 17th.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.