91,000 Shares in Genesis Energy, L.P. (NYSE:GEL) Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC bought a new stake in shares of Genesis Energy, L.P. (NYSE:GEL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 91,000 shares of the pipeline company’s stock, valued at approximately $920,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEL. Manning & Napier Advisors LLC increased its stake in shares of Genesis Energy by 40.0% during the fourth quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock valued at $3,538,000 after acquiring an additional 100,000 shares during the period. ING Groep NV boosted its stake in Genesis Energy by 15.1% during the 3rd quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock valued at $10,197,000 after purchasing an additional 100,000 shares in the last quarter. Murchinson Ltd. acquired a new position in shares of Genesis Energy during the 3rd quarter valued at $1,005,000. BBR Partners LLC bought a new stake in shares of Genesis Energy in the 3rd quarter worth $648,000. Finally, Mutual Advisors LLC lifted its holdings in shares of Genesis Energy by 101.8% in the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $341,000 after buying an additional 16,099 shares during the period. 66.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st.

Genesis Energy Stock Performance

Shares of NYSE GEL opened at $12.02 on Monday. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $15.17. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -9.69 and a beta of 2.13. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The stock’s fifty day simple moving average is $10.67 and its 200 day simple moving average is $11.93.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The firm had revenue of $725.55 million for the quarter.

Genesis Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.165 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.49%. Genesis Energy’s dividend payout ratio (DPR) is presently -53.23%.

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.