Genesis Energy, L.P. $GEL Shares Acquired by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its Genesis Energy position by 67% in the second quarter, purchasing 240,886 additional shares for a total holding of 600,617 shares. Institutional investors and hedge funds collectively own 66.82% of the company.
• Analysts maintain a generally positive view, with Genesis Energy receiving a consensus “Moderate Buy” rating and an average price target of $18, despite recent target reductions by RBC and Wells Fargo.
• Genesis Energy reported quarterly EPS of $0.26, exceeding the $0.02 consensus estimate, and raised its quarterly dividend to $0.20 per share, equivalent to an annualized yield of about 5%.

NEOS Investment Management LLC lifted its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 67.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 600,617 shares of the pipeline company's stock after purchasing an additional 240,886 shares during the quarter. NEOS Investment Management LLC owned about 0.49% of Genesis Energy worth $8,511,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 acquiring an additional 1,465,339 shares during the last quarter. Morgan Stanley raised its holdings in shares of Genesis Energy by 39.9% during the fourth quarter. Morgan Stanley now owns 4,054,770 shares of the pipeline company's stock worth $63,254,000 after purchasing an additional 1,156,884 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Genesis Energy by 3.7% during the fourth quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company's stock worth $388,587,000 after purchasing an additional 890,193 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Genesis Energy during the second quarter valued at $6,872,000. Finally, Goldman Sachs Group Inc. lifted its position in Genesis Energy by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock valued at $63,934,000 after purchasing an additional 478,530 shares during the period. Institutional investors and hedge funds own 66.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GEL shares. Royal Bank Of Canada lowered their price objective on Genesis Energy from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Genesis Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company decreased their target price on shares of Genesis Energy from $19.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Genesis Energy currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Genesis Energy Price Performance

Shares of Genesis Energy stock opened at $15.86 on Friday. The firm has a market cap of $1.94 billion, a PE ratio of 83.48 and a beta of 0.67. Genesis Energy, L.P. has a twelve month low of $13.75 and a twelve month high of $18.64. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 24.31. The business has a 50-day moving average price of $15.28 and a 200 day moving average price of $16.21.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.24. Genesis Energy had a return on equity of 55.96% and a net margin of 4.29%.The company had revenue of $532.00 million for the quarter, compared to the consensus estimate of $532.00 million. During the same quarter in the prior year, the business posted ($0.12) earnings per share.

Genesis Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.20 per share. This is a positive change from Genesis Energy's previous quarterly dividend of $0.18. The ex-dividend date was Friday, July 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.0%. Genesis Energy's payout ratio is 421.05%.

Genesis Energy 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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