Duff & Phelps Investment Management Co. decreased its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 999,300 shares of the pipeline company’s stock after selling 500 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Genesis Energy, L.P. were worth $31,708,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GEL. Chicago Partners Investment Group LLC increased its stake in Genesis Energy, L.P. by 44.9% in the first quarter. Chicago Partners Investment Group LLC now owns 4,186 shares of the pipeline company’s stock worth $136,000 after buying an additional 1,297 shares in the last quarter. Bank of Montreal Can increased its stake in Genesis Energy, L.P. by 13.0% in the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after buying an additional 570 shares in the last quarter. Kings Point Capital Management increased its stake in Genesis Energy, L.P. by 24.3% in the first quarter. Kings Point Capital Management now owns 5,110 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,000 shares in the last quarter. Lucas Capital Management increased its stake in Genesis Energy, L.P. by 9.4% in the first quarter. Lucas Capital Management now owns 7,000 shares of the pipeline company’s stock worth $227,000 after buying an additional 600 shares in the last quarter. Finally, TradeLink Capital LLC purchased a new stake in Genesis Energy, L.P. during the second quarter worth about $251,000. Institutional investors and hedge funds own 73.99% of the company’s stock.

Genesis Energy, L.P. (NYSE GEL) opened at 27.70 on Friday. Genesis Energy, L.P. has a 52 week low of $27.64 and a 52 week high of $38.36. The company has a market capitalization of $3.40 billion, a P/E ratio of 28.59 and a beta of 1.20. The company’s 50 day moving average price is $30.42 and its 200-day moving average price is $32.10.

Genesis Energy, L.P. (NYSE:GEL) last announced its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. The company had revenue of $406.72 million during the quarter, compared to analysts’ expectations of $503.22 million. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. Equities research analysts expect that Genesis Energy, L.P. will post $1.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be given a dividend of $0.723 per share. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. This represents a $2.89 annualized dividend and a yield of 10.44%. The ex-dividend date of this dividend is Thursday, July 27th. Genesis Energy, L.P.’s dividend payout ratio (DPR) is currently 294.90%.

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A number of research firms have issued reports on GEL. BidaskClub upgraded Genesis Energy, L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research upgraded Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Wednesday, July 12th. Credit Suisse Group upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating in a research note on Monday, May 15th. Barclays PLC downgraded Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $33.00 to $31.00 in a research note on Tuesday, July 18th. Finally, Robert W. Baird restated a “neutral” rating and set a $35.00 price target (down from $37.00) on shares of Genesis Energy, L.P. in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $37.55.

In related news, CFO Robert V. Deere purchased 34,000 shares of Genesis Energy, L.P. stock in a transaction that occurred on Tuesday, June 13th. The stock was bought at an average cost of $30.34 per share, for a total transaction of $1,031,560.00. Following the completion of the transaction, the chief financial officer now owns 783,935 shares in the company, valued at $23,784,587.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

About Genesis Energy, L.P.

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

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Institutional Ownership by Quarter for Genesis Energy, L.P. (NYSE:GEL)

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