Infrastructure Capital Advisors LLC Makes New $26.02 Million Investment in Genesis Energy, L.P. (NYSE:GEL)

Infrastructure Capital Advisors LLC purchased a new position in shares of Genesis Energy, L.P. (NYSE:GEL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 181,879 shares of the pipeline company’s stock, valued at approximately $26,024,000. Genesis Energy makes up approximately 4.8% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 9th largest holding. Infrastructure Capital Advisors LLC owned about 0.15% of Genesis Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in Genesis Energy by 88.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,101,996 shares of the pipeline company’s stock worth $10,293,000 after buying an additional 518,367 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in Genesis Energy during the first quarter worth $2,905,000. JFG Wealth Management LLC acquired a new stake in Genesis Energy during the second quarter worth $116,000. Securian Asset Management Inc boosted its stake in Genesis Energy by 128.2% during the second quarter. Securian Asset Management Inc now owns 153,982 shares of the pipeline company’s stock worth $1,788,000 after buying an additional 86,500 shares in the last quarter. Finally, RR Advisors LLC boosted its stake in Genesis Energy by 3.0% during the second quarter. RR Advisors LLC now owns 5,923,000 shares of the pipeline company’s stock worth $68,759,000 after buying an additional 173,000 shares in the last quarter. Hedge funds and other institutional investors own 66.93% of the company’s stock.

Shares of NYSE GEL traded up $0.24 during midday trading on Thursday, reaching $11.64. 11,541 shares of the company traded hands, compared to its average volume of 899,454. The firm has a market cap of $1.43 billion, a PE ratio of -5.28 and a beta of 2.73. The stock’s 50-day simple moving average is $8.88 and its 200-day simple moving average is $9.72. Genesis Energy, L.P. has a 12 month low of $3.78 and a 12 month high of $12.78. The company has a debt-to-equity ratio of 4.99, a quick ratio of 1.04 and a current ratio of 1.19.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Wednesday, August 4th. The pipeline company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.42). Genesis Energy had a negative net margin of 9.93% and a negative return on equity of 20.82%. The company had revenue of $503.86 million for the quarter, compared to the consensus estimate of $446.68 million. During the same period in the previous year, the business posted ($2.82) earnings per share. The firm’s revenue was up 29.7% compared to the same quarter last year. On average, equities research analysts expect that Genesis Energy, L.P. will post -0.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Friday, October 29th will be issued a $0.15 dividend. The ex-dividend date is Thursday, October 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.15%. Genesis Energy’s dividend payout ratio is -38.96%.

A number of research analysts have issued reports on GEL shares. Barclays cut Genesis Energy from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $10.00 to $12.00 in a report on Thursday. Zacks Investment Research raised Genesis Energy from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 6th.

In other Genesis Energy news, Director James E. Davison purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 20th. The stock was acquired at an average cost of $7.74 per share, with a total value of $193,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Grant E. Sims purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 9th. The stock was acquired at an average cost of $8.38 per share, with a total value of $83,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,002,913 shares of the company’s stock, valued at $25,164,410.94. The disclosure for this purchase can be found here. Insiders purchased 64,000 shares of company stock valued at $519,160 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

About Genesis Energy

Genesis Energy LP engages in the provision of midstream services and produces natural soda ash. It operates through the following segments: Offshore Pipeline Transportation, Sodium Minerals and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. The Offshore Pipeline Transportation segment owns interests in crude oil and natural gas pipeline transportation and handling operations through its offshore pipeline transportation segment.

See Also: Hold Rating

Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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