Creative Planning Buys 59,263 Shares of Genesis Energy, L.P. (NYSE:GEL)

Creative Planning grew its stake in Genesis Energy, L.P. (NYSE:GEL) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,105,454 shares of the pipeline company’s stock after acquiring an additional 59,263 shares during the period. Creative Planning owned 2.54% of Genesis Energy worth $41,520,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Genesis Energy by 9.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company’s stock valued at $24,743,000 after purchasing an additional 189,610 shares in the last quarter. Mather Group LLC. bought a new position in shares of Genesis Energy during the first quarter valued at approximately $55,000. Pettinga Financial Advisors LLC boosted its stake in shares of Genesis Energy by 9.9% during the first quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock valued at $248,000 after purchasing an additional 2,000 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Genesis Energy by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company’s stock valued at $1,117,000 after purchasing an additional 2,625 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Genesis Energy by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock valued at $67,126,000 after purchasing an additional 760,739 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GEL has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

Insiders Place Their Bets

In related news, VP Garland G. Gaspard purchased 2,261 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $13.27 per share, with a total value of $30,003.47. Following the completion of the acquisition, the vice president now owns 19,525 shares in the company, valued at approximately $259,096.75. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

Genesis Energy Price Performance

Shares of GEL opened at $13.19 on Friday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 38.79 and a beta of 2.10. Genesis Energy, L.P. has a twelve month low of $10.01 and a twelve month high of $15.17. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 4.74. The company has a 50 day moving average of $13.31 and a two-hundred day moving average of $13.19.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22). The firm had revenue of $756.26 million during the quarter. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. During the same period last year, the business posted $0.22 EPS.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.165 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.00%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s dividend payout ratio (DPR) is currently 194.12%.

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.