Flax Pond Capital LLC acquired a new stake in Genesis Energy, L.P. (NYSE:GEL – Free Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 93,371 shares of the pipeline company’s stock, valued at approximately $1,457,000.
Several other large investors also recently modified their holdings of the stock. Fulcrum Asset Management LLP acquired a new stake in shares of Genesis Energy during the 3rd quarter worth about $26,000. Maryland State Retirement & Pension System grew its stake in Genesis Energy by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 104,917 shares of the pipeline company’s stock valued at $1,637,000 after buying an additional 1,647 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Genesis Energy in the 4th quarter valued at about $30,000. ARS Investment Partners LLC grew its position in shares of Genesis Energy by 6.7% in the fourth quarter. ARS Investment Partners LLC now owns 32,000 shares of the pipeline company’s stock valued at $499,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Genesis Energy in the second quarter valued at approximately $49,000. 66.82% of the stock is owned by institutional investors.
Insider Activity at Genesis Energy
In other news, SVP Garland G. Gaspard bought 12,340 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was bought at an average cost of $16.34 per share, for a total transaction of $201,635.60. Following the transaction, the senior vice president owned 36,881 shares of the company’s stock, valued at $602,635.54. This represents a 50.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Analysis on GEL
Genesis Energy Stock Performance
GEL opened at $14.59 on Friday. The company has a debt-to-equity ratio of 25.62, a quick ratio of 0.92 and a current ratio of 0.98. Genesis Energy, L.P. has a 52-week low of $13.80 and a 52-week high of $18.64. The firm has a market cap of $1.79 billion, a P/E ratio of -76.76 and a beta of 0.63. The business’s fifty day moving average is $16.13 and its 200-day moving average is $16.64.
Genesis Energy (NYSE:GEL – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The pipeline company reported ($0.06) EPS 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 analyst estimates of $446.56 million. During the same period last year, the firm earned ($4.06) EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year.
Genesis Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is currently -378.95%.
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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