Genesis Energy, L.P. $GEL Shares Purchased by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in Genesis Energy, L.P. by 12.5%, owning 0.20% of the company valued at $3.9 million after acquiring an additional 27,673 shares.
• Genesis Energy reported negative earnings per share of ($0.12), missing the consensus estimate, with revenues down by 12.3% year-over-year to $377.35 million.
• The company declared a dividend of $0.165 per share, yielding 4.0%, indicating a negative payout ratio of -12.99% due to ongoing financial challenges.

Advisors Asset Management Inc. increased its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 12.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,864 shares of the pipeline company's stock after purchasing an additional 27,673 shares during the period. Advisors Asset Management Inc. owned 0.20% of Genesis Energy worth $3,905,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Sowell Financial Services LLC raised its position in shares of Genesis Energy by 1.4% during the 1st quarter. Sowell Financial Services LLC now owns 93,651 shares of the pipeline company's stock worth $1,469,000 after purchasing an additional 1,250 shares during the last quarter. Pinnacle Holdings LLC raised its holdings in Genesis Energy by 0.7% in the 1st quarter. Pinnacle Holdings LLC now owns 236,600 shares of the pipeline company's stock valued at $3,712,000 after acquiring an additional 1,710 shares during the last quarter. Arrow Investment Advisors LLC raised its holdings in Genesis Energy by 21.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock valued at $215,000 after acquiring an additional 2,381 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in Genesis Energy by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 94,480 shares of the pipeline company's stock valued at $1,482,000 after acquiring an additional 2,585 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in Genesis Energy by 9.1% in the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company's stock valued at $350,000 after acquiring an additional 2,900 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy Stock Down 0.4%

Shares of NYSE GEL opened at $16.63 on Friday. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $17.77. The firm has a fifty day moving average of $16.94 and a 200-day moving average of $15.46. The stock has a market capitalization of $2.04 billion, a PE ratio of -3.27 and a beta of 1.22. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 18.85.

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

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 31st. Genesis Energy's dividend payout ratio is -12.99%.

Analyst Upgrades and Downgrades

GEL has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on Genesis Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada boosted their price target on Genesis Energy from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded Genesis Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $19.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.