Miller Howard Investments Inc. NY Invests $19.34 Million in Genesis Energy, L.P. (NYSE:GEL)

Miller Howard Investments Inc. NY bought a new position in Genesis Energy, L.P. (NYSE:GEL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,232,404 shares of the pipeline company's stock, valued at approximately $19,336,000. Miller Howard Investments Inc. NY owned approximately 1.01% of Genesis Energy as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEL. Oppenheimer Asset Management Inc. raised its holdings in Genesis Energy by 4.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock worth $369,000 after purchasing an additional 1,584 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Genesis Energy in the 4th quarter worth about $943,000. BBR Partners LLC increased its stake in shares of Genesis Energy by 20.9% in the 4th quarter. BBR Partners LLC now owns 58,583 shares of the pipeline company's stock worth $592,000 after acquiring an additional 10,122 shares in the last quarter. Sowell Financial Services LLC lifted its position in Genesis Energy by 21.8% during the 4th quarter. Sowell Financial Services LLC now owns 92,401 shares of the pipeline company's stock valued at $934,000 after acquiring an additional 16,525 shares during the period. Finally, Tejara Capital Ltd bought a new stake in Genesis Energy during the fourth quarter worth about $3,205,000. Hedge funds and other institutional investors own 66.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GEL shares. Wall Street Zen raised shares of Genesis Energy from a "sell" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada lifted their price objective on Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Monday, March 17th. Finally, Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $15.00 to $18.00 in a research note on Monday, March 17th.

Genesis Energy Stock Up 0.9%

Genesis Energy stock traded up $0.15 during trading hours on Friday, hitting $17.47. The stock had a trading volume of 108,324 shares, compared to its average volume of 510,258. The stock's 50-day moving average price is $15.84 and its 200-day moving average price is $13.52. The stock has a market capitalization of $2.14 billion, a P/E ratio of -3.35 and a beta of 1.05. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $17.50. The company has a quick ratio of 1.42, a current ratio of 1.48 and a debt-to-equity ratio of 18.33.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $398.31 million during the quarter. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The company's quarterly revenue was down 8.3% compared to the same quarter last year.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Wednesday, April 30th. Genesis Energy's payout ratio is currently -12.67%.

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.