Genesis Energy, L.P. (NYSE:GEL) Stock Position Increased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its position in Genesis Energy, L.P. (NYSE:GEL) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 128,038 shares of the pipeline company’s stock after purchasing an additional 3,021 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.10% of Genesis Energy worth $1,223,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its position in Genesis Energy by 2.1% in the 1st quarter. FMR LLC now owns 7,558,335 shares of the pipeline company’s stock valued at $85,107,000 after purchasing an additional 158,237 shares during the last quarter. RR Advisors LLC raised its position in shares of Genesis Energy by 5.9% during the 1st quarter. RR Advisors LLC now owns 5,529,000 shares of the pipeline company’s stock worth $62,255,000 after buying an additional 306,000 shares in the last quarter. Morgan Stanley raised its position in shares of Genesis Energy by 35.7% during the 4th quarter. Morgan Stanley now owns 3,346,220 shares of the pipeline company’s stock worth $34,165,000 after buying an additional 879,674 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Genesis Energy by 2.2% during the 1st quarter. Clearbridge Investments LLC now owns 3,241,226 shares of the pipeline company’s stock worth $36,496,000 after buying an additional 69,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Genesis Energy by 24.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,065,155 shares of the pipeline company’s stock worth $16,563,000 after buying an additional 407,137 shares in the last quarter. 65.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com assumed coverage on shares of Genesis Energy in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Royal Bank of Canada dropped their price target on shares of Genesis Energy from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th.

Genesis Energy Stock Performance

Shares of GEL opened at $11.37 on Friday. The firm’s 50 day moving average is $10.43 and its 200-day moving average is $10.13. The stock has a market capitalization of $1.39 billion, a P/E ratio of 284.13 and a beta of 2.09. The company has a debt-to-equity ratio of 4.06, a current ratio of 1.13 and a quick ratio of 0.99. Genesis Energy, L.P. has a 12-month low of $8.05 and a 12-month high of $12.15.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.05). The business had revenue of $804.70 million during the quarter. Genesis Energy had a return on equity of 10.73% and a net margin of 3.07%. Genesis Energy’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.60 annualized dividend and a dividend yield of 5.28%. Genesis Energy’s dividend payout ratio is currently 1,500.00%.

Insider Transactions at Genesis Energy

In other news, insider Edward T. Flynn bought 10,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $9.69 per share, with a total value of $96,900.00. Following the completion of the transaction, the insider now directly owns 130,000 shares in the company, valued at approximately $1,259,700. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Jeffrey J. Rasmussen bought 5,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $9.37 per share, with a total value of $46,850.00. Following the completion of the transaction, the vice president now directly owns 23,500 shares in the company, valued at approximately $220,195. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward T. Flynn bought 10,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $9.69 per share, for a total transaction of $96,900.00. Following the completion of the transaction, the insider now owns 130,000 shares of the company’s stock, valued at $1,259,700. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Genesis Energy Company Profile

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 deepwater pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.