Genesis Energy, L.P. (GEL) Holdings Raised by Alliancebernstein L.P.

Alliancebernstein L.P. grew its holdings in Genesis Energy, L.P. (NYSE:GEL) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,992 shares of the pipeline company’s stock after acquiring an additional 1,455 shares during the quarter. Alliancebernstein L.P.’s holdings in Genesis Energy, L.P. were worth $825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GEL. Ffcm LLC boosted its holdings in Genesis Energy, L.P. by 205.4% in the second quarter. Ffcm LLC now owns 3,573 shares of the pipeline company’s stock worth $116,000 after acquiring an additional 2,403 shares in the last quarter. Bank of Montreal Can boosted its holdings in Genesis Energy, L.P. by 13.0% in the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after acquiring an additional 570 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Genesis Energy, L.P. by 188.8% in the second quarter. Penserra Capital Management LLC now owns 5,291 shares of the pipeline company’s stock worth $166,000 after acquiring an additional 3,459 shares in the last quarter. TradeLink Capital LLC acquired a new stake in Genesis Energy, L.P. in the second quarter worth about $251,000. Finally, Bank of New York Mellon Corp boosted its holdings in Genesis Energy, L.P. by 25.9% in the second quarter. Bank of New York Mellon Corp now owns 8,363 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 1,720 shares in the last quarter. 74.88% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on GEL shares. BidaskClub raised Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Zacks Investment Research raised Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, July 12th. Robert W. Baird reissued a “neutral” rating and issued a $35.00 price target (down previously from $37.00) on shares of Genesis Energy, L.P. in a report on Thursday, July 13th. Barclays PLC downgraded Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $33.00 to $31.00 in a report on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $34.00 price objective on shares of Genesis Energy, L.P. in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $34.92.

Genesis Energy, L.P. (GEL) opened at 23.24 on Tuesday. The stock has a market capitalization of $2.85 billion, a PE ratio of 23.98 and a beta of 1.20. Genesis Energy, L.P. has a 52 week low of $22.71 and a 52 week high of $37.88. The stock has a 50 day moving average price of $25.60 and a 200 day moving average price of $28.84.

Genesis Energy, L.P. (NYSE:GEL) last announced its earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. The firm had revenue of $406.72 million during the quarter, compared to analysts’ expectations of $503.22 million. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. Equities analysts forecast that Genesis Energy, L.P. will post $0.99 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be given a $0.50 dividend. The ex-dividend date is Monday, October 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.61%. Genesis Energy, L.P.’s dividend payout ratio (DPR) is presently 294.90%.

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

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Genesis Energy, L.P. Company Profile

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.

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

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