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

Several other institutional investors have also made changes to their positions in GEL. Alps Advisors Inc. increased its position in shares of Genesis Energy by 16.6% in the first quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company's stock worth $376,877,000 after acquiring an additional 3,422,967 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of Genesis Energy during the first quarter worth approximately $19,336,000. Invesco Ltd. boosted its holdings in shares of Genesis Energy by 2.2% during the first quarter. Invesco Ltd. now owns 18,799,575 shares of the pipeline company's stock worth $294,965,000 after purchasing an additional 408,927 shares during the period. Jefferies Financial Group Inc. boosted its holdings in shares of Genesis Energy by 19.9% during the first quarter. Jefferies Financial Group Inc. now owns 1,861,276 shares of the pipeline company's stock worth $29,203,000 after purchasing an additional 309,019 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in shares of Genesis Energy during the fourth quarter worth approximately $1,449,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Price Performance

NYSE GEL opened at $16.63 on Friday. 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 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 50 day moving average price of $16.94 and a two-hundred day moving average price of $15.46. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $17.77.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its 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). The business had revenue of $377.35 million during 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 was down 12.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.25) EPS.

Genesis Energy Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently commented on GEL. Wells Fargo & Company raised their price target on shares of Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada raised their price target on shares of Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target 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.

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