Genesis Energy, L.P. (GEL) Shares Bought by MAI Capital Management

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MAI Capital Management grew its holdings in Genesis Energy, L.P. (NYSE:GEL) by 2.2% during the 3rd quarter, Holdings Channel reports. The firm owned 187,574 shares of the pipeline company’s stock after acquiring an additional 3,985 shares during the quarter. MAI Capital Management’s holdings in Genesis Energy were worth $4,461,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Tortoise Index Solutions LLC grew its position in shares of Genesis Energy by 16.3% in the second quarter. Tortoise Index Solutions LLC now owns 15,972 shares of the pipeline company’s stock valued at $350,000 after purchasing an additional 2,233 shares during the last quarter. Securian Asset Management Inc grew its position in shares of Genesis Energy by 3.4% in the second quarter. Securian Asset Management Inc now owns 68,896 shares of the pipeline company’s stock valued at $1,510,000 after purchasing an additional 2,296 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Genesis Energy by 1.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 294,537 shares of the pipeline company’s stock valued at $6,453,000 after purchasing an additional 3,232 shares during the last quarter. Northern Trust Corp grew its position in Genesis Energy by 3.3% during the first quarter. Northern Trust Corp now owns 192,724 shares of the pipeline company’s stock worth $3,798,000 after buying an additional 6,081 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in Genesis Energy by 3.9% during the first quarter. California Public Employees Retirement System now owns 185,326 shares of the pipeline company’s stock worth $3,653,000 after buying an additional 6,963 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

GEL stock opened at $24.42 on Friday. Genesis Energy, L.P. has a twelve month low of $18.42 and a twelve month high of $25.87. The stock has a market cap of $2.91 billion, a P/E ratio of 23.04 and a beta of 1.24. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.26 and a current ratio of 1.50.

Genesis Energy (NYSE:GEL) last released its earnings results on Wednesday, August 8th. The pipeline company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.22). Genesis Energy had a return on equity of 7.32% and a net margin of 1.52%. The firm had revenue of $752.39 million for the quarter, compared to analyst estimates of $729.72 million. During the same period last year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was up 85.0% compared to the same quarter last year. On average, sell-side analysts predict that Genesis Energy, L.P. will post 0.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 8.85%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, October 30th. Genesis Energy’s payout ratio is presently 200.00%.

A number of equities research analysts recently weighed in on the company. Barclays lifted their target price on Genesis Energy from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. ValuEngine raised Genesis Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 9th. Raymond James reissued a “buy” rating on shares of Genesis Energy in a research report on Monday, August 13th. UBS Group lifted their target price on Genesis Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Finally, Robert W. Baird downgraded Genesis Energy from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research report on Tuesday, September 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Genesis Energy currently has a consensus rating of “Hold” and a consensus price target of $28.50.

In related news, VP Garland G. Gaspard acquired 1,247 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were bought at an average cost of $24.07 per share, with a total value of $30,015.29. Following the completion of the acquisition, the vice president now owns 1,247 shares of the company’s stock, valued at $30,015.29. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Genesis Energy Company Profile

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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