CIBC Private Wealth Group LLC Raises Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

CIBC Private Wealth Group LLC boosted its stake in Genesis Energy, L.P. (NYSE:GEL) by 5,667.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,342 shares of the pipeline company’s stock after purchasing an additional 187,042 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.16% of Genesis Energy worth $1,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GEL. Captrust Financial Advisors raised its position in shares of Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after buying an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake 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 valued at $369,000 after acquiring an additional 1,584 shares during the last quarter. Stifel Financial Corp raised its position in Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 1,819 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in Genesis Energy during the third quarter valued at about $59,000. Finally, BBR Partners LLC lifted its stake in Genesis Energy by 20.9% during the fourth quarter. BBR Partners LLC now owns 58,583 shares of the pipeline company’s stock worth $592,000 after purchasing an additional 10,122 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors.

Genesis Energy Stock Performance

Genesis Energy stock opened at $15.94 on Thursday. The firm has a fifty day simple moving average of $12.76 and a two-hundred day simple moving average of $12.09. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $16.44. The company has a market capitalization of $1.95 billion, a PE ratio of -12.85 and a beta of 1.92. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13.

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

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s dividend payout ratio is -53.23%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $15.00 to $18.00 in a research report on Monday, March 17th. Royal Bank of Canada increased their price target on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research 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.