Envestnet Asset Management Inc. Purchases 34,549 Shares of Genesis Energy, L.P. (NYSE:GEL)

Key Points

• Envestnet Asset Management Inc. increased its stake in Genesis Energy by 71.6%, now owning 82,795 shares valued at approximately $1.3 million.
• Analysts have set new price targets for Genesis Energy, with Wells Fargo raising it to $19.00 and Royal Bank Of Canada to $20.00, while Wall Street Zen downgraded it to a "sell" rating.
• The company announced a quarterly dividend of $0.165, representing a yield of 3.9%, with the ex-dividend date set for July 31.

Envestnet Asset Management Inc. raised its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 71.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,795 shares of the pipeline company's stock after purchasing an additional 34,549 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Genesis Energy worth $1,299,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. F M Investments LLC bought a new stake in Genesis Energy during the 4th quarter worth approximately $122,000. Ameriprise Financial Inc. purchased a new position in shares of Genesis Energy in the 4th quarter worth approximately $126,000. Arrow Investment Advisors LLC boosted its stake in shares of Genesis Energy by 21.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock worth $215,000 after buying an additional 2,381 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Genesis Energy by 9.1% in the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company's stock worth $350,000 after buying an additional 2,900 shares during the last quarter. Finally, Mariner LLC boosted its stake in shares of Genesis Energy by 7.0% in the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock worth $359,000 after buying an additional 2,321 shares during the last quarter. 66.82% of the stock is owned by institutional investors.

Genesis Energy Trading Down 0.8%

Shares of NYSE GEL traded down $0.14 during midday trading on Tuesday, reaching $16.90. The company had a trading volume of 185,968 shares, compared to its average volume of 590,159. Genesis Energy, L.P. has a one year low of $9.86 and a one year high of $17.77. The stock has a market cap of $2.07 billion, a PE ratio of -3.32 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 18.85. The firm's fifty day moving average price is $16.70 and its 200-day moving average price is $14.50.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The business had revenue of $377.35 million for the quarter. During the same quarter in the previous year, the company posted ($0.25) EPS. Genesis Energy's revenue for the quarter was down 12.3% compared to the same quarter last year.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, July 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.9%. Genesis Energy's dividend payout ratio is -12.99%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GEL shares. Wells Fargo & Company boosted their target price on Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday. Royal Bank Of Canada lifted their price objective on Genesis Energy from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Wall Street Zen lowered Genesis Energy from a "hold" rating to a "sell" rating in a research note on Saturday.

About Genesis Energy

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.