93,246 Shares in Genesis Energy, L.P. (NYSE:GEL) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Genesis Energy, L.P. (NYSE:GEL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 93,246 shares of the pipeline company’s stock, valued at approximately $943,000. Raymond James Financial Inc. owned 0.08% of Genesis Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stifel Financial Corp raised its stake in shares of Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 1,819 shares during the last quarter. Captrust Financial Advisors increased its stake in Genesis Energy by 2.9% in the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after buying an additional 900 shares during the period. Mutual Advisors LLC raised its position in Genesis Energy by 101.8% during the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock worth $341,000 after buying an additional 16,099 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Genesis Energy by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock worth $369,000 after buying an additional 1,584 shares during the last quarter. Finally, ARS Investment Partners LLC lifted its stake in shares of Genesis Energy by 35.9% in the 4th quarter. ARS Investment Partners LLC now owns 46,000 shares of the pipeline company’s stock worth $465,000 after acquiring an additional 12,154 shares during the period. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GEL shares. Royal Bank of Canada boosted their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th. Wells Fargo & Company upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Monday, March 17th.

Genesis Energy Trading Down 10.4 %

NYSE GEL opened at $13.28 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of -10.71 and a beta of 1.39. Genesis Energy, L.P. has a 12 month low of $9.86 and a 12 month high of $16.44. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The company has a 50-day moving average of $12.90 and a 200-day moving average of $12.11.

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

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.165 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 4.97%. Genesis Energy’s dividend payout ratio (DPR) is presently -53.23%.

About Genesis Energy

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.