Manning & Napier Advisors LLC raised its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 28.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 450,000 shares of the pipeline company's stock after buying an additional 100,000 shares during the period. Manning & Napier Advisors LLC owned about 0.37% of Genesis Energy worth $7,060,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in GEL. Invesco Ltd. lifted its stake in shares of Genesis Energy by 1.0% during the fourth quarter. Invesco Ltd. now owns 18,390,648 shares of the pipeline company's stock valued at $185,929,000 after acquiring an additional 178,369 shares during the period. JPMorgan Chase & Co. raised its holdings in Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock worth $47,169,000 after purchasing an additional 418,555 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in Genesis Energy by 1.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,552,257 shares of the pipeline company's stock valued at $15,693,000 after purchasing an additional 20,000 shares during the period. Barclays PLC boosted its stake in shares of Genesis Energy by 44.1% in the 4th quarter. Barclays PLC now owns 514,481 shares of the pipeline company's stock valued at $5,202,000 after purchasing an additional 157,401 shares during the last quarter. Finally, Callodine Capital Management LP boosted its stake in shares of Genesis Energy by 40.0% in the 4th quarter. Callodine Capital Management LP now owns 350,000 shares of the pipeline company's stock valued at $3,538,000 after purchasing an additional 100,000 shares during the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.
Genesis Energy Trading Up 5.3%
Shares of Genesis Energy stock traded up $0.88 during trading on Thursday, hitting $17.28. 1,041,094 shares of the company were exchanged, compared to its average volume of 510,152. The company has a debt-to-equity ratio of 18.33, a current ratio of 1.48 and a quick ratio of 1.42. The firm has a market capitalization of $2.12 billion, a P/E ratio of -3.32 and a beta of 1.03. The firm's fifty day moving average price is $15.46 and its 200 day moving average price is $13.22. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $17.42.
Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.37). Genesis Energy had a negative net margin of 20.98% and a negative return on equity of 19.28%. The firm had revenue of $398.31 million for the quarter. During the same period in the prior year, the company posted ($0.09) EPS. The business's revenue for the quarter was down 8.3% on a year-over-year basis.
Genesis Energy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, April 30th. Genesis Energy's dividend payout ratio (DPR) is -12.67%.
Analysts Set New Price Targets
A number of research firms recently weighed in on GEL. Wells Fargo & Company raised shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Wall Street Zen cut shares of Genesis Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada increased their price target on Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Monday, March 17th.
Check Out Our Latest Stock Report on GEL
About Genesis Energy
(
Free Report)
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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