Manning & Napier Advisors LLC Purchases 100,000 Shares of Genesis Energy, L.P. (NYSE:GEL)

Manning & Napier Advisors LLC lifted its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 28.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Other large investors have also made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH increased its position in shares of Genesis Energy by 411.6% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 110,658 shares of the pipeline company's stock valued at $1,736,000 after buying an additional 89,029 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Genesis Energy by 9.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock worth $47,169,000 after acquiring an additional 418,555 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Genesis Energy in the fourth quarter worth about $404,000. Concurrent Investment Advisors LLC bought a new stake in Genesis Energy during the 4th quarter worth approximately $920,000. Finally, Raymond James Financial Inc. bought a new stake in Genesis Energy during the 4th quarter worth approximately $943,000. Institutional investors own 66.82% of the company's stock.

Genesis Energy Stock Down 0.5%

Genesis Energy stock opened at $16.62 on Monday. The company has a market cap of $2.04 billion, a P/E ratio of -3.19 and a beta of 1.03. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $17.10. The company has a fifty day simple moving average of $15.21 and a 200 day simple moving average of $13.09. The company has a current ratio of 1.48, a quick ratio of 1.42 and a debt-to-equity ratio of 18.33.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.37). The company had revenue of $398.31 million during the quarter. Genesis Energy had a negative net margin of 20.98% and a negative return on equity of 19.28%. Genesis Energy's quarterly revenue was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS.

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a yield of 3.97%. Genesis Energy's dividend payout ratio is -12.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Genesis Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Wells Fargo & Company upgraded Genesis Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $15.00 to $18.00 in a report on Monday, March 17th. Finally, Royal Bank Of Canada increased their price objective on Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Monday, March 17th.

Genesis Energy Profile

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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