Genesis Energy, L.P. $GEL Shares Acquired by Alps Advisors Inc.

Alps Advisors Inc. boosted its holdings in shares of Genesis Energy, L.P. (NYSE:GEL) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,019,255 shares of the pipeline company’s stock after acquiring an additional 559,197 shares during the period. Genesis Energy makes up approximately 2.2% of Alps Advisors Inc.’s investment portfolio, making the stock its 10th largest holding. Alps Advisors Inc. owned 19.61% of Genesis Energy worth $401,362,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Genesis Energy by 4.7% in the second quarter. JPMorgan Chase & Co. now owns 4,883,712 shares of the pipeline company’s stock valued at $84,146,000 after purchasing an additional 220,616 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Genesis Energy by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock worth $63,934,000 after buying an additional 478,530 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of Genesis Energy by 37.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 2,051,440 shares of the pipeline company’s stock valued at $34,280,000 after acquiring an additional 562,850 shares in the last quarter. Jefferies Financial Group Inc. increased its position in shares of Genesis Energy by 1.9% in the second quarter. Jefferies Financial Group Inc. now owns 1,897,136 shares of the pipeline company’s stock valued at $32,688,000 after acquiring an additional 35,860 shares during the last quarter. Finally, Callodine Capital Management LP increased its position in shares of Genesis Energy by 4.5% in the second quarter. Callodine Capital Management LP now owns 470,287 shares of the pipeline company’s stock valued at $8,103,000 after acquiring an additional 20,287 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on GEL. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Genesis Energy in a research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Genesis Energy in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.50.

Genesis Energy Trading Down 1.3%

Shares of NYSE:GEL opened at $17.23 on Friday. The company has a market capitalization of $2.11 billion, a P/E ratio of -3.58 and a beta of 0.84. Genesis Energy, L.P. has a 1 year low of $10.29 and a 1 year high of $17.77. The company has a debt-to-equity ratio of 19.90, a current ratio of 0.97 and a quick ratio of 0.90. The business’s 50 day simple moving average is $16.19 and its 200 day simple moving average is $16.23.

Genesis Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. Genesis Energy’s payout ratio is -14.97%.

About Genesis Energy

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.