Garland Gaspard Buys 12,340 Shares of Genesis Energy (NYSE:GEL) Stock

Genesis Energy, L.P. (NYSE:GEL) SVP Garland Gaspard purchased 12,340 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $16.34 per share, for a total transaction of $201,635.60. Following the acquisition, the senior vice president owned 36,881 shares of the company’s stock, valued at $602,635.54. This represents a 50.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Genesis Energy Stock Up 0.7%

Shares of NYSE GEL opened at $16.21 on Tuesday. The firm has a fifty day simple moving average of $17.27 and a two-hundred day simple moving average of $16.69. Genesis Energy, L.P. has a 12 month low of $14.55 and a 12 month high of $18.64. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 25.62. The firm has a market capitalization of $1.98 billion, a PE ratio of -85.29 and a beta of 0.69.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. The company had revenue of $446.56 million for the quarter, compared to the consensus estimate of $446.56 million. During the same period in the previous year, the firm posted ($4.06) EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, April 30th. Genesis Energy’s payout ratio is presently -378.95%.

Institutional Trading of Genesis Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in Genesis Energy by 8.0% in the first quarter. Royal Bank of Canada now owns 273,966 shares of the pipeline company’s stock worth $4,885,000 after buying an additional 20,264 shares during the last quarter. Infrastructure Capital Advisors LLC grew its holdings in shares of Genesis Energy by 2.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 631,861 shares of the pipeline company’s stock valued at $11,266,000 after buying an additional 14,508 shares during the last quarter. Callodine Capital Management LP increased its position in shares of Genesis Energy by 3.1% during the first quarter. Callodine Capital Management LP now owns 484,963 shares of the pipeline company’s stock valued at $8,647,000 after acquiring an additional 14,676 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Genesis Energy by 6.7% during the first quarter. Cetera Investment Advisers now owns 21,838 shares of the pipeline company’s stock valued at $389,000 after acquiring an additional 1,371 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Genesis Energy by 140.6% in the 1st quarter. Bank of New York Mellon Corp now owns 34,895 shares of the pipeline company’s stock worth $622,000 after acquiring an additional 20,394 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GEL. Weiss Ratings lowered Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company dropped their price target on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.