State of New Jersey Common Pension Fund D Has $6,655,000 Position in Genesis Energy, L.P. (NYSE:GEL)

State of New Jersey Common Pension Fund D held its stake in shares of Genesis Energy, L.P. (NYSE:GEL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,726 shares of the pipeline company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D owned about 0.17% of Genesis Energy, L.P. worth $6,655,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GEL. Infrastructure Capital Advisors LLC boosted its stake in Genesis Energy, L.P. by 81.9% in the first quarter. Infrastructure Capital Advisors LLC now owns 256,030 shares of the pipeline company’s stock worth $8,300,000 after buying an additional 115,307 shares during the period. Goldman Sachs Group Inc. boosted its stake in Genesis Energy, L.P. by 3.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,277,497 shares of the pipeline company’s stock worth $106,257,000 after buying an additional 100,158 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Genesis Energy, L.P. by 44.9% in the first quarter. Chicago Partners Investment Group LLC now owns 4,186 shares of the pipeline company’s stock worth $136,000 after buying an additional 1,297 shares during the period. First Trust Advisors LP boosted its stake in Genesis Energy, L.P. by 33.8% in the first quarter. First Trust Advisors LP now owns 327,013 shares of the pipeline company’s stock worth $10,602,000 after buying an additional 82,529 shares during the period. Finally, Global X Management Co. LLC boosted its stake in Genesis Energy, L.P. by 16.3% in the first quarter. Global X Management Co. LLC now owns 484,533 shares of the pipeline company’s stock worth $15,709,000 after buying an additional 67,954 shares during the period. Hedge funds and other institutional investors own 73.99% of the company’s stock.

Genesis Energy, L.P. (NYSE GEL) opened at 27.70 on Friday. Genesis Energy, L.P. has a one year low of $27.64 and a one year high of $38.36. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 28.59 and a beta of 1.20. The stock has a 50 day moving average price of $30.42 and a 200-day moving average price of $32.10.

Genesis Energy, L.P. (NYSE:GEL) last posted its earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. The business had revenue of $406.72 million during the quarter, compared to the consensus estimate of $503.22 million. On average, analysts predict that Genesis Energy, L.P. will post $1.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a $0.723 dividend. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. This represents a $2.89 annualized dividend and a dividend yield of 10.44%. The ex-dividend date of this dividend is Thursday, July 27th. Genesis Energy, L.P.’s payout ratio is presently 294.90%.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://transcriptdaily.com/2017/08/13/state-of-new-jersey-common-pension-fund-d-has-6655000-position-in-genesis-energy-l-p-nysegel.html.

A number of equities research analysts have commented on the company. BidaskClub cut Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Robert W. Baird upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and increased their price target for the company from $35.00 to $37.00 in a research note on Monday, August 7th. Finally, Barclays PLC cut Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $33.00 to $31.00 in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.55.

In other news, CFO Robert V. Deere bought 34,000 shares of Genesis Energy, L.P. stock in a transaction dated Tuesday, June 13th. The stock was acquired at an average cost of $30.34 per share, with a total value of $1,031,560.00. Following the acquisition, the chief financial officer now owns 783,935 shares of the company’s stock, valued at $23,784,587.90. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

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)

Receive News & Ratings for Genesis Energy L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesis Energy L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply