ING Groep NV Buys 922,600 Shares of Genesis Energy, L.P. $GEL

ING Groep NV lifted its position in Genesis Energy, L.P. (NYSE:GEL) by 63.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,375,800 shares of the pipeline company’s stock after purchasing an additional 922,600 shares during the period. ING Groep NV owned 1.94% of Genesis Energy worth $39,700,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lee Financial Co purchased a new stake in shares of Genesis Energy in the 3rd quarter worth $1,235,000. Miller Howard Investments Inc. NY increased its stake in shares of Genesis Energy by 37.8% during the third quarter. Miller Howard Investments Inc. NY now owns 2,051,440 shares of the pipeline company’s stock valued at $34,280,000 after buying an additional 562,850 shares during the period. Alps Advisors Inc. raised its holdings in shares of Genesis Energy by 2.4% in the third quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock valued at $401,362,000 after acquiring an additional 559,197 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Genesis Energy in the second quarter valued at about $926,000. Finally, Envestnet Asset Management Inc. lifted its stake in Genesis Energy by 21.6% in the second quarter. Envestnet Asset Management Inc. now owns 100,652 shares of the pipeline company’s stock worth $1,734,000 after acquiring an additional 17,857 shares during the period. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Stock Performance

Shares of Genesis Energy stock opened at $17.31 on Wednesday. The company has a market capitalization of $2.12 billion, a PE ratio of -3.60 and a beta of 0.84. The company has a 50-day simple moving average of $16.26 and a two-hundred day simple moving average of $16.24. Genesis Energy, L.P. has a one year low of $10.29 and a one year high of $17.77. The company has a debt-to-equity ratio of 19.90, a quick ratio of 0.90 and a current ratio of 0.97.

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, January 30th. This is a boost from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. Genesis Energy’s payout ratio is currently -14.97%.

Analyst Ratings Changes

GEL has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Genesis Energy in a research report on Thursday, January 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of Genesis Energy in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Genesis Energy has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Genesis Energy Company Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.