Infrastructure Capital Advisors LLC Acquires 7,604 Shares of Genesis Energy, L.P. (NYSE:GEL)

Infrastructure Capital Advisors LLC increased its holdings in Genesis Energy, L.P. (NYSE:GEL) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 780,212 shares of the pipeline company’s stock after purchasing an additional 7,604 shares during the quarter. Genesis Energy makes up approximately 1.4% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 18th largest holding. Infrastructure Capital Advisors LLC owned about 0.64% of Genesis Energy worth $10,431,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GEL. Chickasaw Capital Management LLC grew its stake in shares of Genesis Energy by 6.5% in the second quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock worth $61,411,000 after purchasing an additional 262,784 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Genesis Energy in the second quarter worth about $1,073,000. Van ECK Associates Corp lifted its holdings in Genesis Energy by 17.4% in the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after buying an additional 3,073 shares during the period. Custom Index Systems LLC lifted its holdings in Genesis Energy by 0.9% in the second quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock worth $1,682,000 after buying an additional 1,041 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Genesis Energy by 2.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock worth $491,000 after buying an additional 887 shares during the period. 66.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GEL has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. Finally, StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Genesis Energy Stock Down 0.1 %

GEL stock opened at $11.80 on Friday. The firm has a 50 day moving average price of $12.52 and a 200-day moving average price of $13.14. Genesis Energy, L.P. has a 52-week low of $10.01 and a 52-week high of $15.17. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The firm had revenue of $714.30 million for the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same period in the prior year, the business earned $0.29 earnings per share.

Genesis Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.165 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.59%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s dividend payout ratio (DPR) is -89.19%.

Genesis Energy Company Profile

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.