Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Genesis Energy, L.P. (NYSE:GEL)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 12.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,259,537 shares of the pipeline company's stock after buying an additional 587,429 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 4.29% of Genesis Energy worth $60,905,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State of Wyoming bought a new stake in Genesis Energy during the 2nd quarter valued at $27,000. International Assets Investment Management LLC bought a new stake in shares of Genesis Energy during the 4th quarter valued at $46,000. Indiana Trust & Investment Management CO bought a new stake in shares of Genesis Energy during the 3rd quarter valued at $46,000. Tower Research Capital LLC TRC purchased a new stake in Genesis Energy during the 3rd quarter worth about $46,000. Finally, Captrust Financial Advisors boosted its stake in Genesis Energy by 90.8% in the 2nd quarter. Captrust Financial Advisors now owns 5,034 shares of the pipeline company's stock worth $40,000 after purchasing an additional 2,395 shares during the period. Hedge funds and other institutional investors own 66.82% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Genesis Energy from a "buy" rating to a "hold" rating in a report on Tuesday, January 9th.

Genesis Energy Price Performance

NYSE:GEL traded up $0.14 during trading hours on Friday, hitting $12.00. The stock had a trading volume of 421,754 shares, compared to its average volume of 389,773. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 54.55 and a beta of 2.04. Genesis Energy, L.P. has a one year low of $8.05 and a one year high of $12.78. The company has a 50 day simple moving average of $11.27 and a two-hundred day simple moving average of $11.40. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.00 and a quick ratio of 0.86.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its earnings results on Thursday, February 15th. The pipeline company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.31). The business had revenue of $774.10 million for the quarter. Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $0.15 EPS.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.00%. Genesis Energy's dividend payout ratio (DPR) is 272.73%.

Genesis Energy Company 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.