Genesis Energy, L.P. (NYSE:GEL) CFO Robert V. Deere bought 45,000 shares of Genesis Energy stock in a transaction on Tuesday, November 21st. The shares were purchased at an average cost of $21.71 per share, for a total transaction of $976,950.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Genesis Energy, L.P. (NYSE GEL) traded up $0.59 during midday trading on Thursday, reaching $22.31. 559,861 shares of the company’s stock traded hands, compared to its average volume of 541,268. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 1.80. Genesis Energy, L.P. has a 12 month low of $20.43 and a 12 month high of $37.88. The firm has a market cap of $2,736.30, a PE ratio of 24.27 and a beta of 1.15.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.96%. The ex-dividend date was Monday, October 30th. Genesis Energy’s dividend payout ratio (DPR) is presently 281.69%.
Several institutional investors have recently modified their holdings of GEL. Alps Advisors Inc. boosted its holdings in shares of Genesis Energy by 11.3% in the 3rd quarter. Alps Advisors Inc. now owns 8,713,795 shares of the pipeline company’s stock valued at $229,608,000 after buying an additional 881,434 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Genesis Energy by 46.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,202,594 shares of the pipeline company’s stock valued at $57,642,000 after buying an additional 695,436 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Genesis Energy by 4.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock valued at $327,222,000 after buying an additional 431,059 shares in the last quarter. Kayne Anderson Capital Advisors LP acquired a new position in shares of Genesis Energy in the 3rd quarter valued at $9,404,000. Finally, Cannell Peter B & Co. Inc. boosted its holdings in shares of Genesis Energy by 74.5% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 775,690 shares of the pipeline company’s stock valued at $24,613,000 after buying an additional 331,225 shares in the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.
GEL has been the topic of a number of analyst reports. Robert W. Baird set a $29.00 target price on shares of Genesis Energy and gave the stock a “buy” rating in a research note on Friday, November 17th. Zacks Investment Research raised shares of Genesis Energy from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday, November 9th. UBS reduced their price target on shares of Genesis Energy from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Janney Montgomery Scott set a $30.00 price target on shares of Genesis Energy and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Barclays raised shares of Genesis Energy from an “underweight” rating to an “equal weight” rating and reduced their price target for the company from $31.00 to $27.00 in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Genesis Energy currently has an average rating of “Hold” and an average target price of $33.45.
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Genesis Energy Company Profile
Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.
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