Insider Buying: Genesis Energy, L.P. (NYSE:GEL) Insider Acquires 1,000 Shares of Stock

Genesis Energy, L.P. (NYSE:GEL) insider Ryan S. Sims acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $12.95 per share, for a total transaction of $12,950.00. Following the completion of the transaction, the insider now directly owns 23,500 shares in the company, valued at $304,325. This represents a 4.44 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Genesis Energy Stock Up 2.2 %

NYSE:GEL traded up $0.28 on Friday, hitting $13.29. 205,021 shares of the company’s stock were exchanged, compared to its average volume of 439,070. The firm has a 50-day moving average price of $11.41 and a 200-day moving average price of $11.90. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $15.17. The company has a market cap of $1.63 billion, a P/E ratio of -10.73 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last issued 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). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The business had revenue of $725.55 million for the quarter.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 4.97%. Genesis Energy’s dividend payout ratio is presently -53.23%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Jefferies Financial Group Inc. increased its stake in shares of Genesis Energy by 1.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company’s stock worth $15,693,000 after purchasing an additional 20,000 shares during the last quarter. Cresset Asset Management LLC acquired a new position in shares of Genesis Energy during the 4th quarter worth about $1,449,000. Captrust Financial Advisors increased its stake in shares of Genesis Energy by 9.1% during the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company’s stock worth $350,000 after purchasing an additional 2,900 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Genesis Energy during the 4th quarter worth about $126,000. Finally, Callodine Capital Management LP grew its stake in Genesis Energy by 40.0% in the 4th quarter. Callodine Capital Management LP now owns 350,000 shares of the pipeline company’s stock valued at $3,538,000 after buying an additional 100,000 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price target on shares of Genesis Energy from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th.

Genesis Energy Company 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.