Cresset Asset Management LLC Takes $1.45 Million Position in Genesis Energy, L.P. (NYSE:GEL)

Cresset Asset Management LLC acquired a new position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 143,290 shares of the pipeline company's stock, valued at approximately $1,449,000. Cresset Asset Management LLC owned 0.12% of Genesis Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GEL. Invesco Ltd. boosted its stake in shares of Genesis Energy by 1.0% during the fourth quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company's stock valued at $185,929,000 after purchasing an additional 178,369 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Genesis Energy by 9.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock valued at $47,169,000 after purchasing an additional 418,555 shares during the period. ING Groep NV boosted its stake in shares of Genesis Energy by 12.1% during the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company's stock valued at $8,644,000 after purchasing an additional 92,300 shares during the period. Barclays PLC boosted its stake in shares of Genesis Energy by 44.1% during the fourth quarter. Barclays PLC now owns 514,481 shares of the pipeline company's stock valued at $5,202,000 after purchasing an additional 157,401 shares during the period. Finally, Manning & Napier Advisors LLC boosted its stake in shares of Genesis Energy by 40.0% during the fourth quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company's stock valued at $3,538,000 after purchasing an additional 100,000 shares during the period. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Stock Down 0.2%

Genesis Energy stock traded down $0.03 during trading hours on Friday, reaching $15.27. The stock had a trading volume of 89,463 shares, compared to its average volume of 489,757. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -12.31 and a beta of 1.08. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The business's 50 day moving average price is $14.26 and its 200-day moving average price is $12.26. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $16.44.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its earnings results on Thursday, May 8th. The pipeline company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.37). The firm had revenue of $398.31 million during the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The business's quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) EPS.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.66 annualized dividend and a dividend yield of 4.32%. Genesis Energy's dividend payout ratio (DPR) is currently -12.67%.

Analyst Ratings Changes

GEL has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th. Wells Fargo & Company raised shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Finally, StockNews.com raised shares of Genesis Energy from a "sell" rating to a "hold" rating in a research note on Tuesday.

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.