ING Groep NV Has $14.51 Million Stake in Genesis Energy, L.P. (NYSE:GEL)

Key Points

• ING Groep NV increased its stake in Genesis Energy by 8.2%, acquiring an additional 70,000 shares, raising their total ownership to approximately 925,000 shares worth $14.5 million.
• Several analysts have revised their price targets for Genesis Energy, with Wells Fargo raising it to $19.00 and Royal Bank of Canada increasing it to $20.00, while Wall Street Zen downgraded the rating to "sell."
• Genesis Energy reported a quarterly loss per share of ($0.12), missing estimates, and announced a dividend of $0.165, providing a yield of 3.9% for investors.

ING Groep NV lifted its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 925,000 shares of the pipeline company's stock after acquiring an additional 70,000 shares during the quarter. ING Groep NV owned about 0.76% of Genesis Energy worth $14,513,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GEL. F M Investments LLC acquired a new position in shares of Genesis Energy during the 4th quarter worth about $122,000. Cetera Investment Advisers acquired a new position in shares of Genesis Energy during the 1st quarter worth about $193,000. Ameriprise Financial Inc. acquired a new position in Genesis Energy in the 4th quarter valued at approximately $126,000. 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 in 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 in the last quarter. Institutional investors own 66.82% of the company's stock.

Genesis Energy Price Performance

Shares of GEL traded down $0.33 during mid-day trading on Friday, reaching $16.77. The company had a trading volume of 514,030 shares, compared to its average volume of 451,484. The company has a market capitalization of $2.05 billion, a P/E ratio of -3.30 and a beta of 1.09. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $17.77. The company's 50-day moving average is $16.77 and its 200-day moving average is $14.62. The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pipeline company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). The business 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%. Genesis Energy's revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.25) EPS.

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, July 31st. Genesis Energy's dividend payout ratio (DPR) is currently -12.99%.

Analysts Set New Price Targets

Several research firms have commented on GEL. Royal Bank Of Canada upped 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. Wells Fargo & Company upped 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. Finally, Wall Street Zen cut Genesis Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd.

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.