Genesis Energy, L.P. $GEL Stock Position Raised by ING Groep NV

ING Groep NV lifted its position in Genesis Energy, L.P. (NYSE:GEL) by 5.3% in the 4th quarter, Holdings Channel reports. The fund owned 2,500,800 shares of the pipeline company’s stock after buying an additional 125,000 shares during the period. ING Groep NV’s holdings in Genesis Energy were worth $39,012,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GEL. Fulcrum Asset Management LLP purchased a new stake in shares of Genesis Energy in the 3rd quarter valued at approximately $26,000. Geneos Wealth Management Inc. purchased a new stake in shares of Genesis Energy in the 2nd quarter valued at approximately $49,000. Jones Financial Companies Lllp purchased a new stake in shares of Genesis Energy in the 1st quarter valued at approximately $108,000. Osaic Holdings Inc. lifted its position in shares of Genesis Energy by 91.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock valued at $133,000 after acquiring an additional 3,680 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Genesis Energy in the 4th quarter valued at approximately $164,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Down 0.2%

GEL stock opened at $15.62 on Friday. Genesis Energy, L.P. has a 12-month low of $14.55 and a 12-month high of $18.64. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -82.23 and a beta of 0.63. The company has a 50 day moving average of $16.69 and a two-hundred day moving average of $16.67.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.22). The business had revenue of $446.56 million during 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 business’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.06) earnings per share.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Thursday, April 30th. Genesis Energy’s payout ratio is currently -378.95%.

Analyst Ratings Changes

GEL has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Genesis Energy currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Insider Buying and Selling

In other Genesis Energy news, SVP Garland G. Gaspard bought 12,340 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was bought at an average cost of $16.34 per share, with a total value of $201,635.60. Following the completion of the transaction, the senior vice president directly owned 36,881 shares of the company’s stock, valued at approximately $602,635.54. The trade was a 50.28% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by corporate 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.