Envestnet Asset Management Inc. decreased its position in Genesis Energy, L.P. (NYSE:GEL) by 11.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,141 shares of the pipeline company’s stock after selling 3,185 shares during the period. Envestnet Asset Management Inc.’s holdings in Genesis Energy were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC boosted its holdings in Genesis Energy by 2,404.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 41,917 shares of the pipeline company’s stock worth $50,000 after buying an additional 40,243 shares during the last quarter. RFG Advisory LLC acquired a new stake in shares of Genesis Energy during the second quarter worth about $211,000. Comerica Bank acquired a new stake in shares of Genesis Energy during the second quarter worth about $212,000. King Luther Capital Management Corp acquired a new stake in shares of Genesis Energy during the second quarter worth about $231,000. Finally, Nwam LLC raised its position in shares of Genesis Energy by 5.7% during the third quarter. Nwam LLC now owns 16,144 shares of the pipeline company’s stock worth $347,000 after purchasing an additional 865 shares during the period. Institutional investors and hedge funds own 74.11% of the company’s stock.

In other news, insider Edward T. Flynn bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $20.12 per share, with a total value of $100,600.00. Following the transaction, the insider now owns 48,916 shares in the company, valued at $984,189.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

A number of research firms have recently commented on GEL. UBS Group dropped their price target on Genesis Energy from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. ValuEngine raised Genesis Energy from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada reaffirmed a “buy” rating and set a $27.00 price target on shares of Genesis Energy in a research report on Thursday, August 8th. Finally, Zacks Investment Research lowered Genesis Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Genesis Energy has a consensus rating of “Hold” and an average price target of $24.67.

Genesis Energy stock traded up $0.04 during midday trading on Wednesday, reaching $19.38. The stock had a trading volume of 653 shares, compared to its average volume of 577,514. The firm’s fifty day simple moving average is $21.01 and its 200-day simple moving average is $21.66. Genesis Energy, L.P. has a 1-year low of $17.55 and a 1-year high of $24.04. The stock has a market capitalization of $2.35 billion, a P/E ratio of -240.55 and a beta of 1.27. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.08 and a current ratio of 1.25.

Genesis Energy (NYSE:GEL) last announced its earnings results on Wednesday, November 6th. The pipeline company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.12). Genesis Energy had a net margin of 1.90% and a return on equity of 8.53%. The firm had revenue of $621.70 million during the quarter, compared to analyst estimates of $613.81 million. During the same period in the prior year, the business posted ($0.15) EPS. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Genesis Energy, L.P. will post 0.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 11.35%. The ex-dividend date is Wednesday, October 30th. Genesis Energy’s dividend payout ratio is presently -2,750.00%.

Genesis Energy Company Profile

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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