Advisory Services Network LLC boosted its position in Genesis Energy, L.P. (NYSE:GEL) by 372.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,379 shares of the company’s stock after buying an additional 5,029 shares during the period. Advisory Services Network LLC’s holdings in Genesis Energy, L.P. were worth $242,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dividend Assets Capital LLC increased its position in Genesis Energy, L.P. by 1.2% in the second quarter. Dividend Assets Capital LLC now owns 1,713,020 shares of the company’s stock worth $65,729,000 after buying an additional 20,925 shares in the last quarter. Solaris Asset Management LLC increased its position in Genesis Energy, L.P. by 4.2% in the second quarter. Solaris Asset Management LLC now owns 3,075 shares of the company’s stock worth $118,000 after buying an additional 125 shares in the last quarter. Pointe Capital Management LLC bought a new position in Genesis Energy, L.P. during the second quarter worth $513,000. Diversified Trust Co increased its position in Genesis Energy, L.P. by 2.4% in the second quarter. Diversified Trust Co now owns 20,147 shares of the company’s stock worth $773,000 after buying an additional 473 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Genesis Energy, L.P. during the second quarter worth $249,000.
Shares of Genesis Energy, L.P. (NYSE:GEL) traded down 0.67% during trading on Friday, reaching $34.28. The company’s stock had a trading volume of 129,893 shares. Genesis Energy, L.P. has a 52-week low of $19.55 and a 52-week high of $40.90. The stock has a market cap of $4.04 billion, a P/E ratio of 32.22 and a beta of 1.09. The stock has a 50-day moving average of $35.03 and a 200-day moving average of $36.46.
Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.05. The business earned $460.05 million during the quarter, compared to analysts’ expectations of $595.60 million. The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.38 earnings per share. Analysts predict that Genesis Energy, L.P. will post $1.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, October 28th were issued a $0.70 dividend. The ex-dividend date was Wednesday, October 26th. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.69. This represents a $2.80 annualized dividend and a dividend yield of 8.17%.
GEL has been the subject of a number of recent analyst reports. Zacks Investment Research cut Genesis Energy, L.P. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 5th. Capital One Financial Corp. initiated coverage on Genesis Energy, L.P. in a research report on Monday, October 17th. They issued an “equal weight” rating and a $40.00 price objective for the company. Credit Suisse Group AG cut Genesis Energy, L.P. from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $47.00 to $40.00 in a research report on Friday, November 4th. TheStreet cut Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research report on Monday, November 7th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Genesis Energy, L.P. in a research report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Genesis Energy, L.P. currently has an average rating of “Buy” and a consensus price target of $40.44.
About Genesis Energy, L.P.
Genesis Energy, L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through five segments: Offshore Pipeline Transportation, Onshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.