ING Groep NV Grows Stock Holdings 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 raised its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 925,000 shares of the pipeline company's stock after acquiring an additional 70,000 shares during the quarter. ING Groep NV owned approximately 0.76% of Genesis Energy worth $14,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Jefferies Financial Group Inc. increased its position in Genesis Energy by 19.9% during the 1st quarter. Jefferies Financial Group Inc. now owns 1,861,276 shares of the pipeline company's stock worth $29,203,000 after buying an additional 309,019 shares during the period. Cetera Investment Advisers bought a new position in Genesis Energy during the 1st quarter worth $193,000. Fractal Investments LLC lifted its position in shares of Genesis Energy by 15.4% during the 1st quarter. Fractal Investments LLC now owns 343,243 shares of the pipeline company's stock valued at $5,385,000 after acquiring an additional 45,724 shares during the period. Alps Advisors Inc. boosted its position in shares of Genesis Energy by 16.6% during the 1st 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. Finally, Brown Advisory Inc. boosted its holdings in shares of Genesis Energy by 374.6% in the 1st quarter. Brown Advisory Inc. now owns 66,445 shares of the pipeline company's stock valued at $1,043,000 after purchasing an additional 52,445 shares in the last quarter. 66.82% of the stock is owned by institutional investors.

Genesis Energy Stock Up 1.5%

Genesis Energy stock traded up $0.25 during midday trading on Thursday, hitting $17.11. 156,871 shares of the stock were exchanged, compared to its average volume of 458,884. 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 $2.10 billion, a price-to-earnings ratio of -3.37 and a beta of 1.09. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $17.77. The business's 50-day moving average price is $16.75 and its 200-day moving average price is $14.58.

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 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%. Genesis Energy's revenue for the quarter 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a $0.165 dividend. The ex-dividend date is Thursday, July 31st. This represents a $0.66 annualized dividend and a yield of 3.9%. Genesis Energy's dividend payout ratio is presently -12.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GEL shares. Wells Fargo & Company raised their price target on shares of Genesis Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of Genesis Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Royal Bank Of Canada lifted their price objective 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.

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.