Exchange Traded Concepts LLC Acquires 1,286 Shares of Genesis Energy, L.P. (NYSE:GEL)

Exchange Traded Concepts LLC lifted its holdings in Genesis Energy, L.P. (NYSE:GEL) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 132,904 shares of the pipeline company’s stock after purchasing an additional 1,286 shares during the period. Exchange Traded Concepts LLC owned about 0.11% of Genesis Energy worth $1,777,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Mather Group LLC. purchased a new position in Genesis Energy during the first quarter valued at approximately $55,000. Paragon Associates & Paragon Associates II Joint Venture purchased a new position in Genesis Energy during the first quarter valued at approximately $111,000. Pettinga Financial Advisors LLC lifted its holdings in Genesis Energy by 9.9% during the first quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock valued at $248,000 after purchasing an additional 2,000 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 3,073 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Genesis Energy by 4.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock valued at $372,000 after purchasing an additional 1,550 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

Insider Buying and Selling

In other Genesis Energy news, VP Garland G. Gaspard purchased 2,261 shares of Genesis Energy stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the completion of the transaction, the vice president now owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Genesis Energy Price Performance

GEL stock opened at $13.50 on Wednesday. Genesis Energy, L.P. has a one year low of $10.01 and a one year high of $15.17. The company’s fifty day moving average price is $13.31 and its 200-day moving average price is $13.17. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09. The company has a market capitalization of $1.65 billion, a PE ratio of 39.69 and a beta of 2.10.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. The company had revenue of $756.26 million during the quarter. During the same quarter in the previous year, the business earned $0.22 earnings per share.

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.89%. The ex-dividend date is Thursday, October 31st. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s payout ratio is currently 194.12%.

Genesis Energy Profile

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.