Wealth Enhancement Advisory Services LLC Makes New $139,000 Investment in Genesis Energy, L.P. (NYSE:GEL)

Wealth Enhancement Advisory Services LLC purchased a new stake in Genesis Energy, L.P. (NYSE:GEL) in the 3rd quarter, HoldingsChannel reports. The fund purchased 10,393 shares of the pipeline company’s stock, valued at approximately $139,000.

A number of other hedge funds also recently made changes to their positions in GEL. Paragon Associates & Paragon Associates II Joint Venture acquired a new stake in Genesis Energy during the 1st quarter valued at approximately $111,000. Van ECK Associates Corp increased its position in shares of Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after buying an additional 3,073 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Genesis Energy by 4.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock worth $372,000 after buying an additional 1,550 shares during the period. Axiom Advisory LLC raised its stake in Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after buying an additional 794 shares during the last quarter. Finally, XTX Topco Ltd lifted its holdings in Genesis Energy by 40.9% in the second quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock valued at $443,000 after buying an additional 8,984 shares during the period. 66.82% of the stock is currently owned by institutional investors.

Genesis Energy Trading Down 4.0 %

NYSE:GEL opened at $10.79 on Wednesday. Genesis Energy, L.P. has a 12 month low of $10.01 and a 12 month high of $15.17. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 5.13. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -14.58 and a beta of 2.12. The firm has a fifty day simple moving average of $12.82 and a two-hundred day simple moving average of $13.22.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. The firm had revenue of $714.30 million during the quarter. During the same period in the previous year, the company posted $0.29 EPS.

Genesis Energy Increases Dividend

The company 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 dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.12%. 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. Genesis Energy’s dividend payout ratio is presently -89.19%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GEL shares. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. StockNews.com cut Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada boosted their price target on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th.

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.