Texas Capital Bank Wealth Management Services Inc Purchases Shares of 200,000 Genesis Energy, L.P. $GEL

Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Genesis Energy, L.P. (NYSE:GEL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 200,000 shares of the pipeline company’s stock, valued at approximately $3,120,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. ProShare Advisors LLC acquired a new position in Genesis Energy in the fourth quarter valued at about $164,000. HighTower Advisors LLC lifted its stake in Genesis Energy by 3.0% in the fourth quarter. HighTower Advisors LLC now owns 103,388 shares of the pipeline company’s stock valued at $1,613,000 after buying an additional 3,040 shares during the period. ARS Investment Partners LLC lifted its stake in Genesis Energy by 6.7% in the fourth quarter. ARS Investment Partners LLC now owns 32,000 shares of the pipeline company’s stock valued at $499,000 after buying an additional 2,000 shares during the period. Fulcrum Asset Management LLP lifted its stake in Genesis Energy by 15.3% in the fourth quarter. Fulcrum Asset Management LLP now owns 11,683 shares of the pipeline company’s stock valued at $184,000 after buying an additional 1,546 shares during the period. Finally, MGO One Seven LLC acquired a new position in shares of Genesis Energy during the fourth quarter worth approximately $327,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Down 0.7%

Shares of NYSE GEL opened at $15.23 on Thursday. The business has a 50-day simple moving average of $17.01 and a two-hundred day simple moving average of $16.69. Genesis Energy, L.P. has a 52 week low of $14.55 and a 52 week high of $18.64. The company has a market cap of $1.87 billion, a P/E ratio of -80.16 and a beta of 0.69. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62.

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

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.7%. The ex-dividend date was Thursday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is presently -378.95%.

Insider Transactions at Genesis Energy

In related news, SVP Garland G. Gaspard purchased 12,340 shares of Genesis Energy stock in a transaction that occurred on Monday, May 18th. The shares were acquired at an average cost of $16.34 per share, for a total transaction of $201,635.60. Following the transaction, the senior vice president directly owned 36,881 shares in the company, valued at $602,635.54. The trade was a 50.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Weiss Ratings raised Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Wells Fargo & Company reduced their price objective on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Genesis Energy has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Genesis Energy 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.