Alps Advisors Inc. Purchases 890,193 Shares of Genesis Energy, L.P. $GEL

Key Points

• Alps Advisors Inc. increased its stake in Genesis Energy by 3.7% in the fourth quarter, buying 890,193 additional shares. It now holds 24.9 million shares, making GEL its 9th largest holding and about 20.34% of the company.
• Genesis Energy reported mixed quarterly results, with revenue of $446.56 million matching estimates but EPS of -$0.06 missing expectations of $0.16. Revenue still rose 12.1% year over year, while the company maintained a net margin of 2.11%.
• The company paid a quarterly dividend of $0.18 per share, equal to an annualized yield of 4.6%. Analysts currently rate the stock a “Moderate Buy” with a consensus price target of $19.00.

Alps Advisors Inc. boosted its position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,909,448 shares of the pipeline company's stock after acquiring an additional 890,193 shares during the period. Genesis Energy comprises 2.3% of Alps Advisors Inc.'s investment portfolio, making the stock its 9th biggest holding. Alps Advisors Inc. owned about 20.34% of Genesis Energy worth $388,587,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Genesis Energy by 29.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company's stock valued at $107,285,000 after purchasing an additional 1,465,339 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Genesis Energy by 2.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,192,745 shares of the pipeline company's stock valued at $81,007,000 after purchasing an additional 135,434 shares in the last quarter. ING Groep NV raised its holdings in shares of Genesis Energy by 5.3% in the 4th quarter. ING Groep NV now owns 2,500,800 shares of the pipeline company's stock valued at $39,012,000 after purchasing an additional 125,000 shares in the last quarter. UBS Group AG raised its holdings in shares of Genesis Energy by 31.3% in the 4th quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company's stock valued at $28,301,000 after purchasing an additional 432,771 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Genesis Energy by 15.4% in the 3rd quarter. Citigroup Inc. now owns 435,892 shares of the pipeline company's stock valued at $7,284,000 after purchasing an additional 58,126 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Genesis Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 18th. Wells Fargo & Company reduced their price objective on shares of Genesis Energy from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Genesis Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Genesis Energy Price Performance

Shares of NYSE GEL opened at $15.64 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 25.62. Genesis Energy, L.P. has a twelve month low of $14.55 and a twelve month high of $18.64. The stock has a 50 day moving average of $16.50 and a two-hundred day moving average of $16.68. The stock has a market cap of $1.91 billion, a P/E ratio of -82.29 and a beta of 0.63.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.22). Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. The firm had revenue of $446.56 million during the quarter, compared to analysts' expectations of $446.56 million. During the same quarter in the prior year, the firm posted ($4.06) EPS. Genesis Energy's quarterly revenue was up 12.1% compared to the same quarter last year.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid 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 4.6%. Genesis Energy's payout ratio is currently -378.95%.

Insiders Place Their Bets

In other news, SVP Garland G. Gaspard acquired 12,340 shares of Genesis Energy stock in a transaction on Monday, May 18th. The stock was bought at an average price of $16.34 per share, for a total transaction of $201,635.60. Following the completion of the purchase, the senior vice president owned 36,881 shares in the company, valued at $602,635.54. This represents a 50.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Genesis Energy Company Profile

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.

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