Genesis Energy, L.P. (NYSE:GEL) Stock Position Lifted by Stifel Financial Corp

Stifel Financial Corp boosted its stake in Genesis Energy, L.P. (NYSE:GEL) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,722 shares of the pipeline company’s stock after buying an additional 1,819 shares during the quarter. Stifel Financial Corp’s holdings in Genesis Energy were worth $250,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Millburn Ridgefield Corp acquired a new stake in shares of Genesis Energy during the 3rd quarter valued at about $59,000. Murchinson Ltd. acquired a new stake in Genesis Energy in the third quarter valued at approximately $1,005,000. Captrust Financial Advisors lifted its stake in Genesis Energy by 2.9% in the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after acquiring an additional 900 shares during the last quarter. Infrastructure Capital Advisors LLC grew its position in Genesis Energy by 1.0% in the third quarter. Infrastructure Capital Advisors LLC now owns 780,212 shares of the pipeline company’s stock worth $10,431,000 after acquiring an additional 7,604 shares in the last quarter. Finally, BBR Partners LLC acquired a new position in shares of Genesis Energy during the 3rd quarter worth $648,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Up 1.0 %

GEL stock opened at $10.19 on Monday. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $15.17. 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 company has a market cap of $1.25 billion, a PE ratio of -13.77 and a beta of 2.12. The business’s 50-day simple moving average is $11.40 and its 200 day simple moving average is $12.83.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.29 EPS.

Genesis Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.48%. Genesis Energy’s dividend payout ratio is presently -89.19%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GEL. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th.

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.