Creative Planning Raises Stock Position in Genesis Energy, L.P. (NYSE:GEL)

Creative Planning increased its holdings in shares of Genesis Energy, L.P. (NYSE:GEL) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,105,454 shares of the pipeline company’s stock after purchasing an additional 59,263 shares during the period. Creative Planning’s holdings in Genesis Energy were worth $41,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GEL. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Genesis Energy by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock worth $67,126,000 after purchasing an additional 760,739 shares during the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Genesis Energy by 6.5% during the second quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock worth $61,411,000 after purchasing an additional 262,784 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Genesis Energy by 9.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company’s stock worth $24,743,000 after purchasing an additional 189,610 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Genesis Energy by 184.1% during the first quarter. GSA Capital Partners LLP now owns 120,932 shares of the pipeline company’s stock worth $1,345,000 after purchasing an additional 78,369 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in Genesis Energy during the second quarter valued at $1,073,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Royal Bank of Canada raised their price target on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday.

Insider Activity

In related news, VP Garland G. Gaspard bought 2,261 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were acquired 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 directly owns 19,525 shares in the company, valued at $259,096.75. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.72% of the company’s stock.

Genesis Energy Stock Down 0.3 %

GEL stock opened at $13.19 on Friday. The firm has a market cap of $1.62 billion, a PE ratio of 38.79 and a beta of 2.10. 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 firm’s fifty day moving average is $13.31 and its 200 day moving average is $13.19. Genesis Energy, L.P. has a one year low of $10.01 and a one year high of $15.17.

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

Genesis Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.165 dividend. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.00%. Genesis Energy’s dividend payout ratio (DPR) is 194.12%.

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.