Garland Gaspard Acquires 12,340 Shares of Genesis Energy (NYSE:GEL) Stock

Genesis Energy, L.P. (NYSE:GEL) SVP Garland Gaspard acquired 12,340 shares of the company’s stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $16.34 per share, for a total transaction of $201,635.60. Following the completion of the purchase, the senior vice president owned 36,881 shares of the company’s stock, valued at $602,635.54. This trade represents a 50.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Genesis Energy Trading Down 0.2%

NYSE GEL opened at $16.37 on Thursday. The company has a debt-to-equity ratio of 25.62, a quick ratio of 0.92 and a current ratio of 0.98. The firm has a market cap of $2.00 billion, a PE ratio of -86.16 and a beta of 0.69. Genesis Energy, L.P. has a one year low of $14.55 and a one year high of $18.64. The firm’s fifty day moving average is $17.20 and its two-hundred day moving average is $16.70.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, May 7th. The pipeline company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). The business had revenue of $446.56 million during the quarter, compared to analyst estimates of $446.56 million. Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($4.06) earnings per share.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a $0.18 dividend. The ex-dividend date was Thursday, April 30th. This represents a $0.72 dividend on an annualized basis and a yield of 4.4%. Genesis Energy’s payout ratio is currently -378.95%.

Wall Street Analyst Weigh In

A number of research firms have commented on GEL. Wells Fargo & Company dropped their price objective on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings raised shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Genesis Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its holdings in Genesis Energy by 3.7% during the fourth quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company’s stock worth $388,587,000 after purchasing an additional 890,193 shares in the last quarter. Invesco Ltd. raised its holdings in Genesis Energy by 0.3% during the fourth quarter. Invesco Ltd. now owns 18,852,533 shares of the pipeline company’s stock worth $294,100,000 after purchasing an additional 48,406 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Genesis Energy by 29.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock worth $107,285,000 after purchasing an additional 1,465,339 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Genesis Energy by 2.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,192,745 shares of the pipeline company’s stock worth $81,007,000 after purchasing an additional 135,434 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Genesis Energy by 39.9% during the fourth quarter. Morgan Stanley now owns 4,054,770 shares of the pipeline company’s stock worth $63,254,000 after purchasing an additional 1,156,884 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Company Profile

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.