Miller Howard Investments Inc. NY Grows Stock Holdings in Genesis Energy, L.P. $GEL

Miller Howard Investments Inc. NY grew its stake in Genesis Energy, L.P. (NYSE:GEL) by 37.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,051,440 shares of the pipeline company’s stock after purchasing an additional 562,850 shares during the period. Miller Howard Investments Inc. NY owned approximately 1.68% of Genesis Energy worth $34,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEL. Sanders Morris Harris LLC boosted its stake in Genesis Energy by 2.3% during the second quarter. Sanders Morris Harris LLC now owns 30,700 shares of the pipeline company’s stock worth $529,000 after buying an additional 700 shares during the last quarter. CWM LLC boosted its position in shares of Genesis Energy by 126.5% during the 3rd quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock valued at $52,000 after acquiring an additional 1,735 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Genesis Energy by 22.4% in the third quarter. SG Americas Securities LLC now owns 9,546 shares of the pipeline company’s stock valued at $160,000 after purchasing an additional 1,745 shares during the period. Mather Group LLC. acquired a new stake in Genesis Energy during the third quarter worth about $30,000. Finally, ELCO Management Co. LLC raised its stake in Genesis Energy by 1.0% during the second quarter. ELCO Management Co. LLC now owns 189,626 shares of the pipeline company’s stock worth $3,267,000 after purchasing an additional 1,960 shares during the period. Institutional investors and hedge funds own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

GEL has been the subject of several analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $20.00 price target on shares of Genesis Energy in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Genesis Energy Stock Performance

Shares of GEL stock opened at $15.93 on Friday. The company has a debt-to-equity ratio of 19.90, a quick ratio of 0.90 and a current ratio of 0.97. The firm has a market cap of $1.95 billion, a P/E ratio of -3.31 and a beta of 0.84. The firm’s 50 day moving average price is $15.67 and its 200-day moving average price is $16.25. Genesis Energy, L.P. has a one year low of $10.15 and a one year high of $17.77.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, October 30th. The pipeline company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.18). Genesis Energy had a negative net margin of 26.61% and a negative return on equity of 28.39%. The company had revenue of $414.00 million during the quarter. During the same period in the previous year, the business earned ($0.32) EPS. The business’s revenue was up 4.2% compared to the same quarter last year.

About Genesis Energy

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.