Envestnet Asset Management Inc. Buys 34,549 Shares of Genesis Energy, L.P. (NYSE:GEL)

Envestnet Asset Management Inc. increased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 71.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,795 shares of the pipeline company’s stock after buying an additional 34,549 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Genesis Energy worth $1,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Miller Howard Investments Inc. NY acquired a new position in Genesis Energy during the first quarter worth $19,336,000. JPMorgan Chase & Co. boosted its stake in shares of Genesis Energy by 9.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock valued at $47,169,000 after purchasing an additional 418,555 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Genesis Energy by 1.0% in the 4th quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company’s stock worth $185,929,000 after purchasing an additional 178,369 shares during the last quarter. Barclays PLC increased its position in shares of Genesis Energy by 44.1% during the 4th quarter. Barclays PLC now owns 514,481 shares of the pipeline company’s stock worth $5,202,000 after purchasing an additional 157,401 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in shares of Genesis Energy during the 4th quarter worth about $1,449,000. Institutional investors own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Genesis Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday. Wall Street Zen cut shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Royal Bank Of Canada increased their price target on Genesis Energy from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday.

Genesis Energy Stock Performance

Shares of NYSE:GEL opened at $17.02 on Friday. The business has a fifty day moving average of $16.69 and a 200-day moving average of $14.41. The firm has a market cap of $2.08 billion, a PE ratio of -3.35 and a beta of 1.09. The company has a debt-to-equity ratio of 18.33, a quick ratio of 1.42 and a current ratio of 1.48. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $17.77.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share 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 20.17%. The company had revenue of $377.35 million during the quarter. During the same period in the previous year, the firm earned ($0.25) EPS. The company’s quarterly revenue was down 12.3% on a year-over-year basis.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $0.66 annualized dividend and a yield of 3.9%. Genesis Energy’s dividend payout ratio is currently -12.67%.

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.