Genesis Energy, L.P. (NYSE:GEL) Shares Acquired by ARS Investment Partners LLC

ARS Investment Partners LLC increased its holdings in Genesis Energy, L.P. (NYSE:GEL) by 35.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,000 shares of the pipeline company’s stock after acquiring an additional 12,154 shares during the quarter. ARS Investment Partners LLC’s holdings in Genesis Energy were worth $465,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Chickasaw Capital Management LLC raised its stake in Genesis Energy by 0.4% during the fourth quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company’s stock valued at $38,776,000 after buying an additional 15,027 shares in the last quarter. Creative Planning raised its stake in Genesis Energy by 1.9% during the third quarter. Creative Planning now owns 3,105,454 shares of the pipeline company’s stock valued at $41,520,000 after buying an additional 59,263 shares in the last quarter. Infrastructure Capital Advisors LLC raised its stake in Genesis Energy by 1.0% during the third quarter. Infrastructure Capital Advisors LLC now owns 780,212 shares of the pipeline company’s stock valued at $10,431,000 after buying an additional 7,604 shares in the last quarter. ING Groep NV raised its stake in Genesis Energy by 15.1% during the third quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock valued at $10,197,000 after buying an additional 100,000 shares in the last quarter. Finally, ELCO Management Co. LLC raised its stake in Genesis Energy by 10.7% during the second quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company’s stock valued at $2,695,000 after buying an additional 18,170 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GEL. Royal Bank of Canada upped their target price on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st.

Genesis Energy Price Performance

Shares of GEL stock opened at $10.82 on Tuesday. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $15.17. The business has a 50 day simple moving average of $10.86 and a 200 day simple moving average of $12.44. 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 (NYSE:GEL) last issued its quarterly 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). The firm had revenue of $714.30 million for the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same period in the prior year, the firm posted $0.29 earnings per share.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.165 per share. The ex-dividend date is Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.10%. Genesis Energy’s dividend payout ratio (DPR) is presently -89.19%.

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.