Mutual Advisors LLC Boosts Stake in Genesis Energy, L.P. $GEL

Mutual Advisors LLC lifted its stake in Genesis Energy, L.P. (NYSE:GEL) by 43.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 46,539 shares of the pipeline company’s stock after acquiring an additional 14,202 shares during the quarter. Mutual Advisors LLC’s holdings in Genesis Energy were worth $737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GEL. Jones Financial Companies Lllp purchased a new stake in shares of Genesis Energy in the first quarter worth about $108,000. Cetera Investment Advisers purchased a new stake in shares of Genesis Energy in the first quarter worth about $193,000. Oppenheimer Asset Management Inc. boosted its position in shares of Genesis Energy by 34.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 49,197 shares of the pipeline company’s stock worth $772,000 after buying an additional 12,677 shares during the period. Brown Advisory Inc. boosted its position in shares of Genesis Energy by 374.6% in the first quarter. Brown Advisory Inc. now owns 66,445 shares of the pipeline company’s stock worth $1,043,000 after buying an additional 52,445 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Genesis Energy by 71.6% in the first quarter. Envestnet Asset Management Inc. now owns 82,795 shares of the pipeline company’s stock worth $1,299,000 after buying an additional 34,549 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analysts Set New Price Targets

GEL has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Genesis Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Wall Street Zen upgraded Genesis Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Royal Bank Of Canada boosted their price target on Genesis Energy from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Genesis Energy Trading Up 0.6%

Shares of NYSE GEL opened at $15.10 on Friday. The stock’s 50 day moving average price is $16.47 and its two-hundred day moving average price is $15.94. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $17.77. The stock has a market capitalization of $1.85 billion, a P/E ratio of -2.97 and a beta of 1.15. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 18.85.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.08). Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The firm had revenue of $377.35 million for the quarter. During the same quarter in the prior year, the firm earned ($0.25) EPS. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, October 31st. This represents a $0.66 annualized dividend and a yield of 4.4%. Genesis Energy’s dividend payout ratio is presently -12.99%.

Genesis Energy Profile

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.