NEOS Investment Management LLC Grows Stake in Genesis Energy, L.P. $GEL

NEOS Investment Management LLC increased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 67.0% in the 2nd quarter, Holdings Channel reports. The firm owned 600,617 shares of the pipeline company’s stock after purchasing an additional 240,886 shares during the period. NEOS Investment Management LLC’s holdings in Genesis Energy were worth $8,511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fulcrum Asset Management LLP acquired a new stake in Genesis Energy in the 3rd quarter worth about $26,000. Kestra Advisory Services LLC acquired a new stake in shares of Genesis Energy in the fourth quarter worth approximately $30,000. Geneos Wealth Management Inc. purchased a new stake in shares of Genesis Energy during the second quarter worth approximately $49,000. Jones Financial Companies Lllp purchased a new stake in shares of Genesis Energy during the first quarter worth approximately $108,000. Finally, Osaic Holdings Inc. lifted its holdings in 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 purchasing an additional 3,680 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GEL has been the subject of a number of research reports. Weiss Ratings raised shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Royal Bank Of Canada decreased their price target on shares of Genesis Energy from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company lowered their price target 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 analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Genesis Energy Price Performance

NYSE:GEL opened at $15.86 on Friday. Genesis Energy, L.P. has a one year low of $13.75 and a one year high of $18.64. The stock has a market cap of $1.94 billion, a PE ratio of 83.48 and a beta of 0.67. The company has a debt-to-equity ratio of 24.31, a quick ratio of 0.90 and a current ratio of 0.93. The stock has a 50 day moving average price of $15.28 and a 200 day moving average price of $16.21.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, August 6th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.24. The company had revenue of $532.00 million for the quarter, compared to analyst estimates of $532.00 million. Genesis Energy had a return on equity of 55.96% and a net margin of 4.29%.During the same quarter in the previous year, the company posted ($0.12) earnings per share.

Genesis Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.18. Genesis Energy’s dividend payout ratio is presently 421.05%.

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.