Advisors Asset Management Inc. Acquires 13,068 Shares of Genesis Energy, L.P. (NYSE:GEL)

Advisors Asset Management Inc. boosted its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,191 shares of the pipeline company’s stock after acquiring an additional 13,068 shares during the period. Advisors Asset Management Inc.’s holdings in Genesis Energy were worth $2,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEL. BBR Partners LLC bought a new position in Genesis Energy during the third quarter valued at about $648,000. Infrastructure Capital Advisors LLC boosted its holdings in Genesis Energy by 1.0% during the third quarter. Infrastructure Capital Advisors LLC now owns 780,212 shares of the pipeline company’s stock valued at $10,431,000 after purchasing an additional 7,604 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Genesis Energy by 2.9% during the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 900 shares in the last quarter. Murchinson Ltd. acquired a new stake in Genesis Energy during the third quarter valued at approximately $1,005,000. Finally, Millburn Ridgefield Corp acquired a new stake in Genesis Energy during the third quarter valued at approximately $59,000. 66.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada boosted their target price on Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, March 17th. Wells Fargo & Company raised Genesis Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $18.00 in a report on Monday, March 17th.

Genesis Energy Stock Up 2.6 %

NYSE:GEL opened at $15.45 on Friday. The stock’s fifty day moving average price is $11.92 and its two-hundred day moving average price is $11.93. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -12.46 and a beta of 1.92. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $15.48. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03.

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

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Friday, January 31st. Genesis Energy’s payout ratio is -53.23%.

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.