Raymond James Financial Inc. Invests $943,000 in Genesis Energy, L.P. (NYSE:GEL)

Raymond James Financial Inc. purchased a new stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 93,246 shares of the pipeline company's stock, valued at approximately $943,000. Raymond James Financial Inc. owned 0.08% of Genesis Energy at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Mutual Advisors LLC increased its holdings in shares of Genesis Energy by 101.8% in the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock valued at $341,000 after purchasing an additional 16,099 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock worth $369,000 after buying an additional 1,584 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Genesis Energy during the 4th quarter valued at $404,000. ARS Investment Partners LLC grew its holdings in shares of Genesis Energy by 35.9% during the 4th quarter. ARS Investment Partners LLC now owns 46,000 shares of the pipeline company's stock valued at $465,000 after acquiring an additional 12,154 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Genesis Energy by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company's stock worth $488,000 after acquiring an additional 2,717 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy Trading Down 2.0 %

Shares of NYSE:GEL opened at $13.78 on Tuesday. Genesis Energy, L.P. has a 1 year low of $9.86 and a 1 year high of $16.44. The firm has a fifty day moving average price of $13.98 and a 200 day moving average price of $12.15. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The stock has a market capitalization of $1.69 billion, a PE ratio of -11.11 and a beta of 1.08.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The company had revenue of $725.55 million for the quarter.

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Wednesday, April 30th. Genesis Energy's dividend payout ratio is -53.23%.

Analyst Ratings Changes

A number of analysts recently issued reports on GEL shares. 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 report on Monday, March 17th. Wells Fargo & Company upgraded Genesis Energy from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $15.00 to $18.00 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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