Cetera Investment Advisers Invests $193,000 in Genesis Energy, L.P. $GEL

Cetera Investment Advisers bought a new position in shares of Genesis Energy, L.P. (NYSE:GEL) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,276 shares of the pipeline company’s stock, valued at approximately $193,000.

Several other large investors have also recently added to or reduced their stakes in the business. Sowell Financial Services LLC increased its position in shares of Genesis Energy by 1.4% in the 1st quarter. Sowell Financial Services LLC now owns 93,651 shares of the pipeline company’s stock valued at $1,469,000 after purchasing an additional 1,250 shares during the last quarter. Mariner LLC boosted its holdings in shares of Genesis Energy by 7.0% in the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock valued at $359,000 after buying an additional 2,321 shares in the last quarter. Arrow Investment Advisors LLC boosted its holdings in shares of Genesis Energy by 21.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company’s stock valued at $215,000 after buying an additional 2,381 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Genesis Energy by 6.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock valued at $488,000 after buying an additional 2,717 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Genesis Energy by 9.1% in the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company’s stock valued at $350,000 after buying an additional 2,900 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Stock Performance

NYSE:GEL opened at $17.1350 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 18.85. The firm has a 50-day moving average price of $16.92 and a two-hundred day moving average price of $15.07. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $17.77. The company has a market capitalization of $2.10 billion, a P/E ratio of -3.37 and a beta of 1.09.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%.The firm had revenue of $377.35 million for the quarter. During the same period in the previous year, the business posted ($0.25) EPS. Genesis Energy’s quarterly revenue was down 12.3% on a year-over-year basis.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, July 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.9%. Genesis Energy’s dividend payout ratio (DPR) is currently -12.99%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GEL shares. Royal Bank Of Canada upped their target price on shares of Genesis Energy from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Genesis Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, Wells Fargo & Company increased their price target on shares of Genesis Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $19.50.

Genesis Energy Company 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.