Infrastructure Capital Advisors LLC grew its position in shares of Genesis Energy, L.P. (NYSE:GEL – Free Report) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 617,353 shares of the pipeline company’s stock after purchasing an additional 50,000 shares during the period. Genesis Energy comprises about 0.9% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 24th largest holding. Infrastructure Capital Advisors LLC owned approximately 0.50% of Genesis Energy worth $9,631,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP bought a new stake in Genesis Energy during the third quarter worth about $26,000. Kestra Advisory Services LLC bought a new stake in Genesis Energy during the fourth quarter worth about $30,000. Geneos Wealth Management Inc. bought a new stake in Genesis Energy during the second quarter worth about $49,000. Jones Financial Companies Lllp bought a new stake in Genesis Energy during the first quarter worth about $108,000. Finally, Osaic Holdings Inc. lifted its stake in Genesis Energy by 91.4% during the second quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock worth $133,000 after purchasing an additional 3,680 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.
Insider Buying and Selling at Genesis Energy
In related news, SVP Garland G. Gaspard bought 12,340 shares of the stock in a transaction dated Monday, May 18th. The stock was bought at an average price of $16.34 per share, with a total value of $201,635.60. Following the purchase, the senior vice president owned 36,881 shares in the company, valued at approximately $602,635.54. The trade was a 50.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.
Genesis Energy Trading Down 2.1%
Genesis Energy (NYSE:GEL – Get Free Report) last released its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. The company had revenue of $446.56 million during the quarter, compared to the consensus estimate of $446.56 million. During the same period last year, the firm posted ($4.06) EPS. The company’s revenue was up 12.1% on a year-over-year basis.
Genesis Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, April 30th. Genesis Energy’s payout ratio is -378.95%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on GEL shares. Wells Fargo & Company dropped their price target on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings raised Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.00.
View Our Latest Research Report on GEL
About Genesis Energy
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.
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