Guggenheim Capital LLC raised its position in Genesis Energy, L.P. (NYSE:GEL) by 39.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,018 shares of the pipeline company’s stock after purchasing an additional 3,952 shares during the period. Guggenheim Capital LLC’s holdings in Genesis Energy were worth $313,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in GEL. OppenheimerFunds Inc. lifted its holdings in shares of Genesis Energy by 7.3% during the 4th quarter. OppenheimerFunds Inc. now owns 15,839,475 shares of the pipeline company’s stock worth $354,012,000 after acquiring an additional 1,079,623 shares during the period. Chickasaw Capital Management LLC lifted its holdings in shares of Genesis Energy by 17.8% during the 4th quarter. Chickasaw Capital Management LLC now owns 10,353,821 shares of the pipeline company’s stock worth $231,408,000 after acquiring an additional 1,566,206 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Genesis Energy by 1.2% during the 4th quarter. Clearbridge Investments LLC now owns 9,868,337 shares of the pipeline company’s stock worth $220,557,000 after acquiring an additional 112,910 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Genesis Energy by 2.3% during the 4th quarter. Alps Advisors Inc. now owns 8,915,927 shares of the pipeline company’s stock worth $199,271,000 after acquiring an additional 202,132 shares during the period. Finally, Global X Management Co. LLC lifted its holdings in shares of Genesis Energy by 30.3% during the 4th quarter. Global X Management Co. LLC now owns 1,096,471 shares of the pipeline company’s stock worth $24,506,000 after acquiring an additional 254,657 shares during the period. Institutional investors own 75.91% of the company’s stock.
In related news, insider Edward T. Flynn bought 12,525 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were bought at an average cost of $19.96 per share, for a total transaction of $249,999.00. Following the completion of the purchase, the insider now owns 28,216 shares of the company’s stock, valued at approximately $563,191.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.
GEL stock opened at $22.21 on Friday. Genesis Energy, L.P. has a twelve month low of $21.56 and a twelve month high of $21.95. The company has a market cap of $2.64 billion, a PE ratio of 20.95 and a beta of 1.09. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.40 and a quick ratio of 1.17.
Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Friday, May 4th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.08). Genesis Energy had a return on equity of 8.19% and a net margin of 2.72%. The firm had revenue of $725.80 million for the quarter, compared to the consensus estimate of $684.13 million. During the same quarter last year, the business earned $0.23 earnings per share. The business’s revenue for the quarter was up 74.7% compared to the same quarter last year. analysts anticipate that Genesis Energy, L.P. will post 1.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were paid a dividend of $0.52 per share. The ex-dividend date was Monday, April 30th. This is a boost from Genesis Energy’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 9.37%. Genesis Energy’s dividend payout ratio (DPR) is 196.23%.
Several research analysts recently commented on GEL shares. Zacks Investment Research lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Robert W. Baird set a $27.00 price target on shares of Genesis Energy and gave the company a “buy” rating in a report on Friday, February 16th. UBS reaffirmed a “buy” rating and issued a $38.00 price objective (down previously from $39.00) on shares of Genesis Energy in a research report on Friday, March 2nd. Barclays lowered their price objective on shares of Genesis Energy from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 17th. Finally, ValuEngine downgraded shares of Genesis Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $28.83.
Genesis Energy 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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