Keybank National Association OH Purchases 1,070 Shares of Genesis Energy, L.P. (GEL)

Keybank National Association OH raised its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 9.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,760 shares of the pipeline company’s stock after acquiring an additional 1,070 shares during the period. Keybank National Association OH’s holdings in Genesis Energy, L.P. were worth $405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. OppenheimerFunds Inc. raised its holdings in shares of Genesis Energy, L.P. by 38.3% during the 1st quarter. OppenheimerFunds Inc. now owns 14,212,229 shares of the pipeline company’s stock worth $460,760,000 after acquiring an additional 3,932,520 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Genesis Energy, L.P. by 4.4% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock worth $327,222,000 after acquiring an additional 431,059 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Genesis Energy, L.P. by 2.7% during the 1st quarter. Clearbridge Investments LLC now owns 9,054,077 shares of the pipeline company’s stock worth $293,533,000 after acquiring an additional 238,610 shares in the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Genesis Energy, L.P. by 3.8% during the 2nd quarter. Chickasaw Capital Management LLC now owns 8,250,616 shares of the pipeline company’s stock worth $261,792,000 after acquiring an additional 301,090 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Genesis Energy, L.P. by 8.2% during the 2nd quarter. Alps Advisors Inc. now owns 7,832,361 shares of the pipeline company’s stock worth $248,521,000 after acquiring an additional 594,859 shares in the last quarter. 74.55% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy, L.P. (GEL) opened at 27.16 on Wednesday. The company has a market cap of $3.33 billion, a P/E ratio of 28.03 and a beta of 1.22. The stock’s 50 day moving average price is $27.94 and its 200 day moving average price is $30.71. Genesis Energy, L.P. has a 52-week low of $25.71 and a 52-week high of $38.36.

Genesis Energy, L.P. (NYSE:GEL) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. The firm had revenue of $406.72 million for the quarter, compared to the consensus estimate of $503.22 million. Analysts expect that Genesis Energy, L.P. will post $1.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were given a dividend of $0.723 per share. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.89 dividend on an annualized basis and a yield of 10.65%. Genesis Energy, L.P.’s dividend payout ratio (DPR) is presently 294.90%.

In other Genesis Energy, L.P. news, Director Kenneth M. Jastrow II bought 7,804 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was bought at an average price of $27.25 per share, with a total value of $212,659.00. Following the completion of the purchase, the director now directly owns 35,000 shares in the company, valued at $953,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth M. Jastrow II bought 27,196 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were acquired at an average cost of $26.74 per share, with a total value of $727,221.04. Following the purchase, the director now owns 9,397 shares of the company’s stock, valued at $251,275.78. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

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Several analysts have recently issued reports on GEL shares. BidaskClub cut Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Zacks Investment Research raised Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, July 12th. Robert W. Baird reissued a “neutral” rating and set a $35.00 target price (down previously from $37.00) on shares of Genesis Energy, L.P. in a research report on Thursday, July 13th. Finally, Barclays PLC downgraded Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $33.00 to $31.00 in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $37.18.

About Genesis Energy, L.P.

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

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Institutional Ownership by Quarter for Genesis Energy, L.P. (NYSE:GEL)

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