Global X Management Co LLC lifted its holdings in Genesis Energy, L.P. (NYSE:GEL) by 22.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,495,822 shares of the pipeline company’s stock after acquiring an additional 272,490 shares during the quarter. Global X Management Co LLC’s holdings in Genesis Energy were worth $32,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GEL. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Genesis Energy in the 2nd quarter worth approximately $44,868,000. Chickasaw Capital Management LLC increased its stake in shares of Genesis Energy by 6.8% in the second quarter. Chickasaw Capital Management LLC now owns 13,294,227 shares of the pipeline company’s stock worth $291,277,000 after buying an additional 844,823 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Genesis Energy by 3.1% in the second quarter. OppenheimerFunds Inc. now owns 16,689,722 shares of the pipeline company’s stock worth $365,672,000 after buying an additional 498,828 shares during the period. Alps Advisors Inc. increased its stake in shares of Genesis Energy by 5.8% in the second quarter. Alps Advisors Inc. now owns 9,067,271 shares of the pipeline company’s stock worth $198,664,000 after buying an additional 498,557 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Genesis Energy in the second quarter worth $10,398,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.

In related news, VP Garland G. Gaspard acquired 1,247 shares of Genesis Energy stock in a transaction on Wednesday, September 5th. The shares were acquired at an average cost of $24.07 per share, with a total value of $30,015.29. Following the transaction, the vice president now owns 1,247 shares in the company, valued at $30,015.29. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

Several research analysts recently commented on GEL shares. UBS Group lifted their target price on shares of Genesis Energy from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Raymond James reaffirmed a “buy” rating on shares of Genesis Energy in a research note on Monday, August 13th. Robert W. Baird downgraded shares of Genesis Energy from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research note on Tuesday, September 4th. Zacks Investment Research downgraded shares of Genesis Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, August 10th. Finally, ValuEngine raised shares of Genesis Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.50.

Shares of NYSE GEL opened at $24.44 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.26 and a debt-to-equity ratio of 2.01. Genesis Energy, L.P. has a 52 week low of $18.42 and a 52 week high of $27.27. The firm has a market capitalization of $3.06 billion, a P/E ratio of 23.06 and a beta of 1.25.

Genesis Energy (NYSE:GEL) last issued its earnings results on Wednesday, August 8th. The pipeline company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.22). The firm had revenue of $752.39 million during the quarter, compared to analysts’ expectations of $729.72 million. Genesis Energy had a return on equity of 7.32% and a net margin of 1.52%. The firm’s quarterly revenue was up 85.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. analysts anticipate that Genesis Energy, L.P. will post 0.33 earnings per share for the current fiscal year.

About Genesis Energy

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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