Genesis Energy, L.P. $GEL Shares Bought by ING Groep NV

ING Groep NV grew its holdings in Genesis Energy, L.P. (NYSE:GEL) by 63.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,375,800 shares of the pipeline company’s stock after acquiring an additional 922,600 shares during the quarter. ING Groep NV’s holdings in Genesis Energy were worth $39,700,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Mather Group LLC. acquired a new position in shares of Genesis Energy during the third quarter valued at about $30,000. Geneos Wealth Management Inc. acquired a new stake in Genesis Energy in the 2nd quarter worth approximately $49,000. CWM LLC grew its position in Genesis Energy by 126.5% during the 3rd quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock worth $52,000 after purchasing an additional 1,735 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Genesis Energy during the 1st quarter valued at approximately $108,000. Finally, Osaic Holdings Inc. increased its stake in Genesis Energy by 91.4% during the 2nd quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock valued at $133,000 after purchasing an additional 3,680 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GEL. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research note on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 target price on shares of Genesis Energy in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Genesis Energy Stock Up 0.2%

GEL stock opened at $17.31 on Wednesday. The company has a market capitalization of $2.12 billion, a P/E ratio of -3.60 and a beta of 0.84. Genesis Energy, L.P. has a 12 month low of $10.29 and a 12 month high of $17.77. The firm’s fifty day simple moving average is $16.26 and its 200-day simple moving average is $16.24. The company has a debt-to-equity ratio of 19.90, a current ratio of 0.97 and a quick ratio of 0.90.

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 4.2%. Genesis Energy’s dividend payout ratio is currently -14.97%.

About Genesis Energy

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.