Genesis Energy, L.P. $GEL Position Raised by ING Groep NV

ING Groep NV increased its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500,800 shares of the pipeline company’s stock after purchasing an additional 125,000 shares during the period. ING Groep NV owned 2.04% of Genesis Energy worth $39,012,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its holdings in Genesis Energy by 2.4% during the third quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock worth $401,362,000 after purchasing an additional 559,197 shares in the last quarter. UBS Group AG boosted its stake in Genesis Energy by 31.3% during the fourth quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock valued at $28,301,000 after buying an additional 432,771 shares in the last quarter. Citigroup Inc. boosted its stake in Genesis Energy by 15.4% during the third quarter. Citigroup Inc. now owns 435,892 shares of the pipeline company’s stock valued at $7,284,000 after buying an additional 58,126 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in Genesis Energy during the fourth quarter valued at about $3,120,000. Finally, Hilltop Holdings Inc. boosted its stake in Genesis Energy by 53.9% during the third quarter. Hilltop Holdings Inc. now owns 47,850 shares of the pipeline company’s stock valued at $800,000 after buying an additional 16,750 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Trading Down 0.2%

Shares of NYSE:GEL opened at $15.62 on Friday. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -82.23 and a beta of 0.63. Genesis Energy, L.P. has a 1-year low of $14.55 and a 1-year high of $18.64. 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 company has a 50 day moving average price of $16.69 and a 200 day moving average price of $16.67.

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

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Thursday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is presently -378.95%.

Wall Street Analyst Weigh In

GEL has been the subject of several research reports. Wells Fargo & Company decreased their target price 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. Weiss Ratings raised Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Insiders Place Their Bets

In other Genesis Energy news, SVP Garland G. Gaspard bought 12,340 shares of Genesis Energy stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $201,635.60. Following the completion of the acquisition, the senior vice president owned 36,881 shares of the company’s stock, valued at approximately $602,635.54. This represents a 50.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

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.