Genesis Energy, L.P. (NYSE:GEL) Shares Purchased by ING Groep NV

ING Groep NV raised its holdings in Genesis Energy, L.P. (NYSE:GEL) by 15.1% during the third quarter, Holdings Channel.com reports. The firm owned 762,700 shares of the pipeline company’s stock after purchasing an additional 100,000 shares during the period. ING Groep NV’s holdings in Genesis Energy were worth $10,197,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Axiom Advisory LLC increased its position in shares of Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 794 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Genesis Energy by 2.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after acquiring an additional 887 shares during the last quarter. Custom Index Systems LLC raised its stake in shares of Genesis Energy by 0.9% in the 2nd quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock valued at $1,682,000 after acquiring an additional 1,041 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Genesis Energy by 1.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock worth $1,777,000 after acquiring an additional 1,286 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Genesis Energy by 17.4% in the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 3,073 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Performance

Shares of GEL stock opened at $11.52 on Friday. The firm has a 50 day moving average of $12.75 and a two-hundred day moving average of $13.20. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. Genesis Energy, L.P. has a 52 week low of $10.01 and a 52 week high of $15.17.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. The company had revenue of $714.30 million during the quarter. During the same period in the previous year, the business posted $0.29 EPS.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.73%. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, October 31st. Genesis Energy’s dividend payout ratio is presently -89.19%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their target price on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com downgraded Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.

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.