Corient Private Wealth LLC Takes Position in Genesis Energy, L.P. $GEL

Corient Private Wealth LLC purchased a new stake in shares of Genesis Energy, L.P. (NYSE:GEL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,000 shares of the pipeline company’s stock, valued at approximately $858,000.

Other large investors have also recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP acquired a new position in Genesis Energy in the third quarter worth $26,000. Kestra Advisory Services LLC acquired a new stake in shares of Genesis Energy during the fourth quarter worth $30,000. Geneos Wealth Management Inc. bought a new position in shares of Genesis Energy in the 2nd quarter worth about $49,000. Jones Financial Companies Lllp bought a new position in shares of Genesis Energy in the 1st quarter worth about $108,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Genesis Energy by 91.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock valued at $133,000 after buying an additional 3,680 shares during the period. 66.82% of the stock is currently owned by institutional investors.

Insider Transactions at Genesis Energy

In related news, SVP Garland G. Gaspard acquired 12,340 shares of the business’s stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $16.34 per share, for a total transaction of $201,635.60. Following the acquisition, the senior vice president owned 36,881 shares in the company, valued at approximately $602,635.54. This represents 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. Insiders own 0.72% of the company’s stock.

Genesis Energy Price Performance

Shares of NYSE:GEL opened at $14.20 on Friday. The company has a market capitalization of $1.74 billion, a PE ratio of -74.73 and a beta of 0.62. 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 stock has a fifty day moving average of $15.50 and a 200-day moving average of $16.52. Genesis Energy, L.P. has a one year low of $13.75 and a one year high of $18.64.

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

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.72 dividend on an annualized basis and a yield of 5.1%. Genesis Energy’s dividend payout ratio (DPR) is currently -378.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Wells Fargo & Company lowered their target price on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.