Advisors Asset Management Inc. Grows Position in Genesis Energy, L.P. $GEL

Advisors Asset Management Inc. lifted its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 2.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 254,981 shares of the pipeline company’s stock after purchasing an additional 6,117 shares during the quarter. Advisors Asset Management Inc. owned about 0.21% of Genesis Energy worth $4,393,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp acquired a new position in shares of Genesis Energy during the 1st quarter valued at $108,000. Cetera Investment Advisers acquired a new stake in Genesis Energy during the 1st quarter valued at $193,000. Bank of Montreal Can purchased a new stake in Genesis Energy during the 2nd quarter worth $251,000. Pekin Hardy Strauss Inc. purchased a new position in Genesis Energy in the 2nd quarter valued at about $353,000. Finally, Claro Advisors LLC purchased a new position in Genesis Energy in the second quarter valued at about $439,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Trading Down 2.5%

NYSE:GEL opened at $15.36 on Friday. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $17.77. The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85. The business has a 50 day simple moving average of $15.83 and a 200 day simple moving average of $16.33. The firm has a market capitalization of $1.88 billion, a P/E ratio of -3.02 and a beta of 1.14.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, October 30th. The pipeline company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.18). The firm had revenue of $414.00 million for the quarter. Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%.The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.32) EPS.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, October 31st. Genesis Energy’s payout ratio is currently -13.72%.

Analyst Upgrades and Downgrades

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

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.