Invesco Ltd. Increases Stake in Genesis Energy, L.P. (NYSE:GEL)

Key Points

• Invesco Ltd. increased its ownership in Genesis Energy, L.P. by 2.2%, acquiring an additional 408,927 shares, bringing its total to 18,799,575 shares—approximately 15.35% of the company's stock.
• A number of analysts have recently issued mixed reviews on Genesis Energy, with Wall Street Zen downgrading the stock to "sell," while Royal Bank Of Canada raised its price target from $18.00 to $20.00.
• Genesis Energy reported a quarterly loss of ($0.12) EPS, missing expectations, and a revenue decline of 12.3% compared to the same quarter from the previous year.

Invesco Ltd. raised its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,799,575 shares of the pipeline company's stock after buying an additional 408,927 shares during the period. Invesco Ltd. owned 15.35% of Genesis Energy worth $294,965,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System boosted its holdings in Genesis Energy by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 94,480 shares of the pipeline company's stock valued at $1,482,000 after purchasing an additional 2,585 shares during the period. ING Groep NV grew its position in shares of Genesis Energy by 8.2% during the 1st quarter. ING Groep NV now owns 925,000 shares of the pipeline company's stock valued at $14,513,000 after purchasing an additional 70,000 shares in the last quarter. Jefferies Financial Group Inc. grew its position in shares of 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 valued at $29,203,000 after purchasing an additional 309,019 shares in the last quarter. Cetera Investment Advisers purchased a new position in Genesis Energy in the first quarter worth $193,000. Finally, Fractal Investments LLC grew its position in Genesis Energy by 15.4% in the first quarter. Fractal Investments LLC now owns 343,243 shares of the pipeline company's stock worth $5,385,000 after acquiring an additional 45,724 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GEL. Wall Street Zen upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company boosted their price target on shares of Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada boosted their price target on shares of Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st.

Genesis Energy Trading Up 0.7%

Genesis Energy stock traded up $0.11 during mid-day trading on Friday, hitting $16.93. The company's stock had a trading volume of 314,311 shares, compared to its average volume of 388,241. The company has a debt-to-equity ratio of 18.85, a current ratio of 0.94 and a quick ratio of 0.85. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -3.33 and a beta of 1.09. The business has a 50 day moving average price of $16.87 and a 200-day moving average price of $14.87. 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 issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $377.35 million for the quarter. Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The company's revenue was down 12.3% on a year-over-year basis. During the same period last year, the business posted ($0.25) earnings per share.

Genesis Energy Dividend Announcement

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

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.