Genesis Energy, L.P. $GEL Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Genesis Energy, L.P. by 28.9%, owning approximately 4.58% of the company worth $87.9 million as of the latest SEC filing.
• Genesis Energy reported a loss of $0.12 EPS for the most recent quarter, missing analysts' expectations, with revenues down 12.3% year-over-year.
• The company recently announced a quarterly dividend of $0.165 per share, yielding 4.0%, despite a negative payout ratio reported at -12.99%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 28.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,603,020 shares of the pipeline company's stock after purchasing an additional 1,257,712 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 4.58% of Genesis Energy worth $87,911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sowell Financial Services LLC grew its stake in shares of Genesis Energy by 1.4% in the first quarter. Sowell Financial Services LLC now owns 93,651 shares of the pipeline company's stock worth $1,469,000 after acquiring an additional 1,250 shares in the last quarter. Pinnacle Holdings LLC grew its stake in shares of Genesis Energy by 0.7% in the first quarter. Pinnacle Holdings LLC now owns 236,600 shares of the pipeline company's stock worth $3,712,000 after acquiring an additional 1,710 shares in the last quarter. Arrow Investment Advisors LLC grew its stake in shares of Genesis Energy by 21.1% in the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock worth $215,000 after acquiring an additional 2,381 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Genesis Energy by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 94,480 shares of the pipeline company's stock worth $1,482,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Genesis Energy by 9.1% in the fourth quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company's stock worth $350,000 after acquiring an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company's stock.

Genesis Energy Trading Up 0.2%

NYSE GEL traded up $0.03 during mid-day trading on Thursday, reaching $16.61. 56,786 shares of the stock were exchanged, compared to its average volume of 570,220. The company has a debt-to-equity ratio of 18.85, a quick ratio of 0.85 and a current ratio of 0.94. The stock has a market capitalization of $2.03 billion, a PE ratio of -3.27 and a beta of 1.22. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $17.77. The business's fifty day simple moving average is $16.91 and its 200 day simple moving average is $15.55.

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

Genesis Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GEL shares. Wells Fargo & Company increased their target price 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 upped their target price on shares of 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 raised shares of 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, the stock currently has an average rating of "Buy" and a consensus target price of $19.50.

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.