Dividend Assets Capital LLC Has $27.04 Million Holdings in Genesis Energy, L.P. (GEL)

Dividend Assets Capital LLC lessened its stake in Genesis Energy, L.P. (NYSE:GEL) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,026,127 shares of the pipeline company’s stock after selling 19,124 shares during the quarter. Dividend Assets Capital LLC owned about 0.84% of Genesis Energy, L.P. worth $27,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GEL. Alliancebernstein L.P. boosted its holdings in Genesis Energy, L.P. by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 24,537 shares of the pipeline company’s stock worth $795,000 after acquiring an additional 7,085 shares during the period. Bank of Montreal Can boosted its holdings in Genesis Energy, L.P. by 13.0% in the 2nd quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after acquiring an additional 570 shares during the period. Spirit of America Management Corp NY boosted its holdings in Genesis Energy, L.P. by 1.5% in the 2nd quarter. Spirit of America Management Corp NY now owns 366,942 shares of the pipeline company’s stock worth $11,643,000 after acquiring an additional 5,600 shares during the period. Diversified Trust Co boosted its holdings in Genesis Energy, L.P. by 1.7% in the 2nd quarter. Diversified Trust Co now owns 24,007 shares of the pipeline company’s stock worth $762,000 after acquiring an additional 393 shares during the period. Finally, Private Capital Management Inc. boosted its holdings in Genesis Energy, L.P. by 82.4% in the 2nd quarter. Private Capital Management Inc. now owns 15,500 shares of the pipeline company’s stock worth $492,000 after acquiring an additional 7,000 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Several research firms have recently commented on GEL. Zacks Investment Research cut Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research note on Friday. Barclays PLC reduced their target price on Genesis Energy, L.P. from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, November 6th. UBS AG reduced their target price on Genesis Energy, L.P. from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Robert W. Baird set a $29.00 target price on Genesis Energy, L.P. and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Janney Montgomery Scott set a $30.00 target price on Genesis Energy, L.P. and gave the company a “buy” rating in a research note on Friday, October 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Genesis Energy, L.P. presently has an average rating of “Hold” and a consensus price target of $33.45.

In related news, Director Kenneth M. Jastrow II bought 7,804 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $27.25 per share, with a total value of $212,659.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $953,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth M. Jastrow II bought 27,196 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $26.74 per share, for a total transaction of $727,221.04. Following the completion of the transaction, the director now directly owns 9,397 shares of the company’s stock, valued at $251,275.78. The disclosure for this purchase can be found here. Insiders have purchased 49,300 shares of company stock worth $1,270,755 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

Shares of Genesis Energy, L.P. (NYSE:GEL) traded down $0.22 on Monday, reaching $22.76. The company had a trading volume of 307,300 shares, compared to its average volume of 517,139. Genesis Energy, L.P. has a 52-week low of $22.71 and a 52-week high of $37.88. The company has a market capitalization of $2,790.00, a PE ratio of 24.74, a PEG ratio of 2.83 and a beta of 1.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.62 and a quick ratio of 1.35.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.79%. The ex-dividend date is Monday, October 30th. Genesis Energy, L.P.’s dividend payout ratio (DPR) is presently 285.71%.

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Genesis Energy, L.P. Company Profile

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

Institutional Ownership by Quarter for Genesis Energy, L.P. (NYSE:GEL)

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