Genesis Energy, L.P. (NYSE:GEL) Shares Purchased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. increased its stake in Genesis Energy by 19.9%, holding 1.86 million shares valued at approximately $29 million as of the end of the first quarter.
• Genesis Energy's stock price has recently been targeted with price increases by analysts, with Royal Bank of Canada raising it from $18.00 to $20.00 and Wells Fargo lifting it from $18.00 to $19.00.
• The company announced a quarterly dividend of $0.165, representing a 3.9% yield, which is set to be paid on August 14th.

Jefferies Financial Group Inc. increased its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 19.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,861,276 shares of the pipeline company's stock after buying an additional 309,019 shares during the period. Jefferies Financial Group Inc. owned about 1.52% of Genesis Energy worth $29,203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Sowell Financial Services LLC increased its position in shares of Genesis Energy by 1.4% during the first 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 in the last quarter. Mariner LLC lifted its holdings in shares of Genesis Energy by 7.0% during the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock valued at $359,000 after purchasing an additional 2,321 shares during the last quarter. Arrow Investment Advisors LLC lifted its holdings in shares of Genesis Energy by 21.1% during the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock valued at $215,000 after purchasing an additional 2,381 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Genesis Energy by 6.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company's stock valued at $488,000 after purchasing an additional 2,717 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Genesis Energy by 9.1% during the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company's stock valued at $350,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 66.82% of the company's stock.

Genesis Energy Stock Performance

GEL traded up $0.18 during midday trading on Monday, hitting $17.20. 105,544 shares of the company were exchanged, compared to its average volume of 591,586. The company's 50 day simple moving average is $16.69 and its 200 day simple moving average is $14.46. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -3.39 and a beta of 1.09. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 18.85. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $17.77.

Genesis Energy (NYSE:GEL - Get Free Report) last issued 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 during the quarter. Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The company's quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.25) earnings per share.

Genesis Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, July 31st. Genesis Energy's dividend payout ratio (DPR) is -12.99%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GEL. Royal Bank Of Canada increased their price objective on Genesis Energy from $18.00 to $20.00 and gave the company an "outperform" rating in a report on Friday. Wall Street Zen lowered Genesis Energy from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Wells Fargo & Company raised 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.

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.