BBR Partners LLC Takes Position in Genesis Energy, L.P. (NYSE:GEL)

BBR Partners LLC purchased a new position in shares of Genesis Energy, L.P. (NYSE:GEL) in the third quarter, HoldingsChannel reports. The institutional investor purchased 48,461 shares of the pipeline company’s stock, valued at approximately $648,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Genesis Energy during the third quarter worth about $139,000. Van ECK Associates Corp grew its stake in shares of Genesis Energy by 17.4% in the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after buying an additional 3,073 shares in the last quarter. Axiom Advisory LLC raised its holdings in shares of Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after buying an additional 794 shares during the period. XTX Topco Ltd lifted its position in Genesis Energy by 40.9% during the 2nd quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock worth $443,000 after acquiring an additional 8,984 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Genesis Energy by 2.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock worth $491,000 after acquiring an additional 887 shares during the period. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy Price Performance

Shares of NYSE GEL opened at $11.80 on Thursday. 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, L.P. has a fifty-two week low of $10.01 and a fifty-two week high of $15.17. The business has a 50 day moving average price of $12.55 and a two-hundred day moving average price of $13.15. The firm has a market cap of $1.45 billion, a PE ratio of -15.95 and a beta of 2.12.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The company had revenue of $714.30 million for the quarter. Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. During the same period in the prior year, the firm earned $0.29 earnings per share.

Genesis Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.165 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.59%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s payout ratio is presently -89.19%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GEL. StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.

Genesis Energy Profile

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.