Pinnacle Holdings LLC Buys Shares of 236,087 Genesis Energy, L.P. $GEL

Key Points

• Pinnacle Holdings LLC acquired 236,087 shares of Genesis Energy in the second quarter, worth approximately $3.35 million and representing about 0.19% of the company. Institutional investors and hedge funds collectively own 66.82% of GEL.
• Genesis Energy reported quarterly EPS of $0.26, exceeding the $0.02 analyst consensus, on revenue of $532 million. The company also increased its quarterly dividend to $0.20 per share, implying a 4.9% annualized yield.
• Analyst sentiment remains moderately positive, with two Buy ratings and one Hold rating and an average price target of $18.00, above the stock’s reported $16.18 opening price.

Pinnacle Holdings LLC acquired a new position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 236,087 shares of the pipeline company's stock, valued at approximately $3,345,000. Pinnacle Holdings LLC owned about 0.19% of Genesis Energy at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Fulcrum Asset Management LLP purchased a new stake in shares of Genesis Energy in the 3rd quarter valued at approximately $26,000. Kestra Advisory Services LLC purchased a new stake in Genesis Energy in the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. acquired a new position in Genesis Energy during the second quarter worth $49,000. Jones Financial Companies Lllp purchased a new position in shares of Genesis Energy during the first quarter worth $108,000. Finally, Osaic Holdings Inc. grew its stake in shares of Genesis Energy by 91.4% in the second quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company's stock valued at $133,000 after buying an additional 3,680 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Price Performance

GEL stock opened at $16.18 on Monday. The business has a 50 day moving average price of $14.89 and a 200 day moving average price of $16.27. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 85.16 and a beta of 0.63. Genesis Energy, L.P. has a fifty-two week low of $13.75 and a fifty-two week high of $18.64. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 24.31.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The pipeline company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.02 by $0.24. Genesis Energy had a net margin of 4.29% and a return on equity of 55.96%. The company had revenue of $532.00 million for the quarter, compared to analyst estimates of $532.00 million. During the same period in the prior year, the firm posted ($0.12) earnings per share.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.20 per share. The ex-dividend date was Friday, July 31st. This represents a $0.80 annualized dividend and a yield of 4.9%. This is an increase from Genesis Energy's previous quarterly dividend of $0.18. Genesis Energy's dividend payout ratio (DPR) is 421.05%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of Genesis Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Royal Bank Of Canada decreased their price target on shares of Genesis Energy from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company reduced their price objective on Genesis Energy from $19.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $18.00.

Genesis Energy Company Profile

Genesis Energy LP NYSE: GEL is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company's primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy's operations are organized into several key business segments.

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