Brown Advisory Inc. Increases Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

Brown Advisory Inc. increased its holdings in Genesis Energy, L.P. (NYSE:GEL) by 374.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,445 shares of the pipeline company’s stock after purchasing an additional 52,445 shares during the period. Brown Advisory Inc. owned 0.05% of Genesis Energy worth $1,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Envestnet Asset Management Inc. grew 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 valued at $1,299,000 after purchasing an additional 34,549 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in shares of Genesis Energy in the first quarter valued at $19,336,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of Genesis Energy by 9.7% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 427,837 shares of the pipeline company’s stock valued at $6,713,000 after purchasing an additional 37,824 shares during the period. Oppenheimer Asset Management Inc. grew 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 valued at $772,000 after purchasing an additional 12,677 shares during the period. Finally, Manning & Napier Advisors LLC grew its position in shares of Genesis Energy by 28.6% in the first quarter. Manning & Napier Advisors LLC now owns 450,000 shares of the pipeline company’s stock valued at $7,060,000 after purchasing an additional 100,000 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Price Performance

GEL stock opened at $17.07 on Monday. The stock has a 50-day moving average price of $16.18 and a two-hundred day moving average price of $13.79. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $17.59. The company has a current ratio of 1.48, a quick ratio of 1.42 and a debt-to-equity ratio of 18.33. The company has a market cap of $2.09 billion, a PE ratio of -3.28 and a beta of 1.05.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.37). Genesis Energy had a negative net margin of 20.98% and a negative return on equity of 19.28%. The firm had revenue of $398.31 million for the quarter. During the same period in the previous year, the business posted ($0.09) earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year.

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, July 31st. Genesis Energy’s payout ratio is -12.67%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada lifted their price objective on Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, March 17th. Wall Street Zen raised Genesis Energy from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Finally, Wells Fargo & Company raised Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $18.00 in a research report 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.