Genesis Energy, L.P. $GEL Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in Genesis Energy, L.P. (NYSE:GEL) by 21.6% during the second quarter, Holdings Channel reports. The fund owned 100,652 shares of the pipeline company’s stock after buying an additional 17,857 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Genesis Energy were worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEL. Sanders Morris Harris LLC boosted its holdings in Genesis Energy by 2.3% in the second quarter. Sanders Morris Harris LLC now owns 30,700 shares of the pipeline company’s stock valued at $529,000 after purchasing an additional 700 shares during the last quarter. Pinnacle Holdings LLC boosted its stake in shares of Genesis Energy by 0.7% in the first quarter. Pinnacle Holdings LLC now owns 236,600 shares of the pipeline company’s stock worth $3,712,000 after buying an additional 1,710 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in Genesis Energy by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 94,480 shares of the pipeline company’s stock worth $1,482,000 after acquiring an additional 2,585 shares during the period. Oppenheimer Asset Management Inc. raised its position in Genesis Energy by 7.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 52,962 shares of the pipeline company’s stock valued at $913,000 after acquiring an additional 3,765 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in Genesis Energy in the first quarter valued at approximately $108,000. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy Stock Performance

NYSE GEL opened at $15.48 on Wednesday. The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $16.00 and its 200-day simple moving average is $16.31. The company has a market cap of $1.90 billion, a PE ratio of -3.05 and a beta of 1.14. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $17.77.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, October 30th. The pipeline company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.18). Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The firm had revenue of $414.00 million during the quarter. During the same period in the prior year, the company posted ($0.32) earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $0.165 dividend. The ex-dividend date was Friday, October 31st. This represents a $0.66 dividend on an annualized basis and a yield of 4.3%. Genesis Energy’s dividend payout ratio is presently -13.72%.

Analyst Upgrades and Downgrades

GEL has been the topic of a number of analyst reports. Wall Street Zen raised shares of Genesis Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Royal Bank Of Canada lifted their price objective on shares of Genesis Energy from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their target price on Genesis Energy from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.50.

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.