Whittier Trust Co. of Nevada Inc. Purchases Shares of 40,000 Genesis Energy, L.P. (NYSE:GEL)

Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Genesis Energy, L.P. (NYSE:GEL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 40,000 shares of the pipeline company’s stock, valued at approximately $404,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millburn Ridgefield Corp bought a new position in Genesis Energy during the third quarter valued at approximately $59,000. Stifel Financial Corp boosted its stake in shares of Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 1,819 shares during the period. Mutual Advisors LLC boosted its stake in shares of Genesis Energy by 101.8% during the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $341,000 after purchasing an additional 16,099 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Genesis Energy by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after purchasing an additional 1,584 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Genesis Energy by 2.9% during the third 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 period. 66.82% of the stock is currently owned by institutional investors.

Genesis Energy Stock Performance

Shares of GEL stock opened at $15.45 on Friday. The stock has a fifty day moving average of $11.92 and a 200 day moving average of $11.93. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $15.48. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -12.46 and a beta of 1.92. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $725.55 million during the quarter.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s payout ratio is -53.23%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GEL shares. Wells Fargo & Company raised Genesis Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $15.00 to $18.00 in a research note on Monday, March 17th. Royal Bank of Canada increased their price objective on Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, March 17th.

About Genesis Energy

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.