Cresset Asset Management LLC Purchases New Shares in Genesis Energy, L.P. (NYSE:GEL)

Cresset Asset Management LLC bought a new stake in Genesis Energy, L.P. (NYSE:GEL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. F M Investments LLC acquired a new position in Genesis Energy in the fourth quarter valued at about $122,000. Ameriprise Financial Inc. acquired a new stake in shares of Genesis Energy during the fourth quarter worth about $126,000. Mutual Advisors LLC raised its position in shares of Genesis Energy by 101.8% during the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock worth $341,000 after purchasing an additional 16,099 shares during the period. Captrust Financial Advisors raised its position in shares of Genesis Energy by 9.1% during the fourth quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company's stock worth $350,000 after purchasing an additional 2,900 shares during the period. Finally, Mariner LLC raised its position in shares of Genesis Energy by 7.0% during the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock worth $359,000 after purchasing an additional 2,321 shares during the period. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Stock Down 0.9%

Shares of NYSE:GEL traded down $0.14 during trading on Wednesday, hitting $15.13. 204,501 shares of the company were exchanged, compared to its average volume of 491,138. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -12.20 and a beta of 1.08. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $16.44. The firm has a fifty day moving average price of $14.22 and a two-hundred day moving average price of $12.24. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

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

Genesis Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Wednesday, April 30th. Genesis Energy's payout ratio is presently -12.67%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GEL shares. StockNews.com raised Genesis Energy from a "sell" rating to a "hold" rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Monday, March 17th. Finally, Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $15.00 to $18.00 in a research report on Monday, March 17th.

Genesis Energy Company 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.