Texas Capital Bank Wealth Management Services Inc Invests $3.12 Million in Genesis Energy, L.P. $GEL

Texas Capital Bank Wealth Management Services Inc purchased a new position in Genesis Energy, L.P. (NYSE:GEL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 200,000 shares of the pipeline company’s stock, valued at approximately $3,120,000. Texas Capital Bank Wealth Management Services Inc owned about 0.16% of Genesis Energy as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Lee Financial Co acquired a new position in Genesis Energy during the 3rd quarter valued at about $1,235,000. Alps Advisors Inc. increased its stake in Genesis Energy by 2.4% during the 3rd quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock valued at $401,362,000 after buying an additional 559,197 shares during the period. ING Groep NV increased its stake in Genesis Energy by 63.5% during the 3rd quarter. ING Groep NV now owns 2,375,800 shares of the pipeline company’s stock valued at $39,700,000 after buying an additional 922,600 shares during the period. UBS Group AG increased its stake in Genesis Energy by 31.3% during the 4th quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock valued at $28,301,000 after buying an additional 432,771 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Genesis Energy by 15.4% in the 3rd quarter. Citigroup Inc. now owns 435,892 shares of the pipeline company’s stock worth $7,284,000 after purchasing an additional 58,126 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GEL. Weiss Ratings raised shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Wells Fargo & Company dropped their target price on shares of 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 research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Genesis Energy presently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Genesis Energy Price Performance

Shares of Genesis Energy stock opened at $15.23 on Thursday. The firm has a fifty day simple moving average of $17.01 and a 200-day simple moving average of $16.69. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 25.62. Genesis Energy, L.P. has a 1-year low of $14.55 and a 1-year high of $18.64. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -80.16 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). The company had revenue of $446.56 million for the quarter, compared to the consensus estimate of $446.56 million. Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.The company’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted ($4.06) EPS.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.7%. Genesis Energy’s dividend payout ratio is -378.95%.

Insider Activity at Genesis Energy

In other Genesis Energy news, SVP Garland G. Gaspard bought 12,340 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $16.34 per share, with a total value of $201,635.60. Following the purchase, the senior vice president owned 36,881 shares in the company, valued at $602,635.54. This trade represents a 50.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

Genesis Energy Profile

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.