Signature Financial Management Inc. boosted its position in Genesis Energy, L.P. (NYSE:GEL) by 11.6% during the second quarter, Holdings Channel reports. The firm owned 13,225 shares of the pipeline company’s stock after buying an additional 1,375 shares during the period. Signature Financial Management Inc.’s holdings in Genesis Energy, L.P. were worth $420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GEL. Chicago Partners Investment Group LLC increased its position 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 during the period. Bank of Montreal Can increased its position 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 during the period. Kings Point Capital Management increased its position 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 during the period. Lucas Capital Management increased its position 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 during the period. Finally, TradeLink Capital LLC purchased a new position in Genesis Energy, L.P. during the second quarter worth $251,000. 73.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Genesis Energy, L.P. (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 stock has a market capitalization of $3.40 billion, a P/E ratio of 28.59 and a beta of 1.20. The stock has a 50 day moving average price of $30.42 and a 200 day moving average price of $32.10.

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

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

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A number of research analysts recently weighed in on the company. UBS AG reaffirmed a “buy” rating and set a $41.00 price target (down from $43.00) on shares of Genesis Energy, L.P. in a research note on Friday, May 5th. BidaskClub downgraded Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research raised Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Robert W. Baird reaffirmed 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 analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Genesis Energy, L.P. has a consensus rating of “Hold” and an average price target of $37.55.

In other Genesis Energy, L.P. news, CFO Robert V. Deere bought 34,000 shares of the stock in a transaction dated Tuesday, June 13th. The stock was purchased at an average cost of $30.34 per share, for a total transaction of $1,031,560.00. Following the completion of the acquisition, the chief financial officer now owns 783,935 shares of the company’s stock, valued at $23,784,587.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.

Genesis Energy, L.P. Company Profile

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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