ING Groep NV Acquires 92,300 Shares of Genesis Energy, L.P. (NYSE:GEL)

ING Groep NV lifted its position in Genesis Energy, L.P. (NYSE:GEL) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 855,000 shares of the pipeline company’s stock after purchasing an additional 92,300 shares during the quarter. ING Groep NV owned about 0.70% of Genesis Energy worth $8,644,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GEL. Millburn Ridgefield Corp bought a new stake in shares of Genesis Energy in the third quarter worth about $59,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Genesis Energy in the third quarter worth about $139,000. Stifel Financial Corp increased its holdings in shares of Genesis Energy by 10.8% in the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 1,819 shares during the last quarter. Mutual Advisors LLC increased its holdings in shares of Genesis Energy by 101.8% in the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock worth $341,000 after purchasing an additional 16,099 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Genesis Energy by 2.9% in the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after purchasing an additional 900 shares during the last quarter. 66.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st.

Genesis Energy Trading Down 3.0 %

GEL opened at $12.02 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of -9.69 and a beta of 2.13. Genesis Energy, L.P. has a 12 month low of $9.86 and a 12 month high of $15.17. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The stock has a 50-day moving average of $10.67 and a 200 day moving average of $11.95.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.53). The company had revenue of $725.55 million during the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.165 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.66 annualized dividend and a yield of 5.49%. Genesis Energy’s dividend payout ratio is currently -53.23%.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.