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

Genesis Energy, L.P. (NYSE:GEL) SVP Garland Gaspard purchased 12,340 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was bought at an average cost of $16.34 per share, for a total transaction of $201,635.60. Following the acquisition, the senior vice president directly owned 36,881 shares in the company, valued at approximately $602,635.54. The trade was a 50.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Genesis Energy Stock Performance

Genesis Energy stock opened at $16.21 on Tuesday. Genesis Energy, L.P. has a fifty-two week low of $14.55 and a fifty-two week 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 stock has a market cap of $1.98 billion, a P/E ratio of -85.29 and a beta of 0.69. The firm’s fifty day moving average price is $17.27 and its 200-day moving average price is $16.69.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 had revenue of $446.56 million during the quarter, compared to analysts’ expectations of $446.56 million. During the same quarter last year, the firm posted ($4.06) earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were given 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 presently -378.95%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Genesis Energy by 220.6% during the 1st quarter. Royal Bank of Canada now owns 177,686 shares of the pipeline company’s stock valued at $2,788,000 after purchasing an additional 122,271 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Genesis Energy in the 1st quarter worth approximately $108,000. Goldman Sachs Group Inc. grew its position in shares of Genesis Energy by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock worth $63,934,000 after buying an additional 478,530 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Genesis Energy by 42.9% in the 2nd quarter. Cetera Investment Advisers now owns 17,543 shares of the pipeline company’s stock worth $302,000 after buying an additional 5,267 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Genesis Energy during the second quarter valued at approximately $3,069,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GEL. Wells Fargo & Company decreased their price target 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 cut shares of Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Genesis Energy has a consensus rating of “Moderate Buy” and an average price target of $19.00.

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.