Concurrent Investment Advisors LLC Takes Position in Genesis Energy, L.P. (NYSE:GEL)

Concurrent Investment Advisors LLC bought a new stake in Genesis Energy, L.P. (NYSE:GEL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 91,000 shares of the pipeline company’s stock, valued at approximately $920,000. Concurrent Investment Advisors LLC owned about 0.07% of Genesis Energy at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Genesis Energy during the 3rd quarter valued at about $139,000. ING Groep NV increased its position in Genesis Energy by 15.1% during the third quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock worth $10,197,000 after purchasing an additional 100,000 shares during the last quarter. BBR Partners LLC purchased a new position in Genesis Energy during the third quarter worth approximately $648,000. Infrastructure Capital Advisors LLC raised its stake in Genesis Energy by 1.0% during the third quarter. Infrastructure Capital Advisors LLC now owns 780,212 shares of the pipeline company’s stock worth $10,431,000 after purchasing an additional 7,604 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of Genesis Energy by 2.9% in the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 900 shares during the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Stock Down 3.0 %

Shares of Genesis Energy stock opened at $12.02 on Monday. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $15.17. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -9.69 and a beta of 2.13. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The company has a fifty day moving average price of $10.67 and a 200 day moving average price of $11.93.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The company had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Friday, January 31st. Genesis Energy’s payout ratio is -53.23%.

Wall Street Analysts Forecast Growth

Separately, Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.

Genesis Energy Company Profile

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.