ING Groep NV Increases Position in Genesis Energy, L.P. (NYSE:GEL)

ING Groep NV raised its holdings in shares of Genesis Energy, L.P. (NYSE:GEL) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 855,000 shares of the pipeline company’s stock after buying an additional 92,300 shares during the period. ING Groep NV’s holdings in Genesis Energy were worth $8,644,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GEL. Millburn Ridgefield Corp purchased a new position in shares of Genesis Energy during the third quarter valued at approximately $59,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Genesis Energy in the third quarter valued at approximately $139,000. Stifel Financial Corp boosted its holdings in shares of Genesis Energy by 10.8% in 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 during the period. Mutual Advisors LLC boosted its holdings in shares of Genesis Energy by 101.8% in the fourth 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. Finally, Captrust Financial Advisors boosted its holdings in shares of Genesis Energy by 2.9% in the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st.

Genesis Energy Stock Down 3.0 %

Shares of NYSE GEL opened at $12.02 on Friday. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -9.69 and a beta of 2.13. The stock has a 50 day moving average price of $10.67 and a 200 day moving average price of $11.95. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $15.17.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). The firm had revenue of $725.55 million during 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date was Friday, January 31st. Genesis Energy’s dividend payout ratio (DPR) is -53.23%.

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.