Sowell Financial Services LLC bought a new stake in shares of Genesis Energy, L.P. (NYSE:GEL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,105 shares of the pipeline company’s stock, valued at approximately $359,000.
Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Genesis Energy in the 3rd quarter worth $37,879,000. Advisory Research Inc. lifted its holdings in Genesis Energy by 4.9% during the third quarter. Advisory Research Inc. now owns 2,405,182 shares of the pipeline company’s stock worth $57,195,000 after acquiring an additional 112,121 shares in the last quarter. Virtu Financial LLC lifted its holdings in Genesis Energy by 215.3% during the third quarter. Virtu Financial LLC now owns 75,452 shares of the pipeline company’s stock worth $1,794,000 after acquiring an additional 51,525 shares in the last quarter. BlackRock Inc. lifted its holdings in Genesis Energy by 20.5% during the third quarter. BlackRock Inc. now owns 1,170,357 shares of the pipeline company’s stock worth $27,831,000 after acquiring an additional 199,040 shares in the last quarter. Finally, Tortoise Index Solutions LLC lifted its holdings in Genesis Energy by 17.0% during the third quarter. Tortoise Index Solutions LLC now owns 18,681 shares of the pipeline company’s stock worth $444,000 after acquiring an additional 2,709 shares in the last quarter. Hedge funds and other institutional investors own 75.09% of the company’s stock.
In other news, VP Garland G. Gaspard purchased 1,247 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were purchased at an average price of $24.07 per share, with a total value of $30,015.29. Following the purchase, the vice president now directly owns 1,247 shares of the company’s stock, valued at approximately $30,015.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.
GEL stock opened at $22.49 on Monday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.57 and a current ratio of 1.77. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 21.21 and a beta of 1.16. Genesis Energy, L.P. has a 1-year low of $18.42 and a 1-year high of $25.87.
Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, November 1st. The pipeline company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.35). The business had revenue of $745.30 million for the quarter, compared to the consensus estimate of $736.85 million. Genesis Energy had a return on equity of 5.92% and a net margin of 1.16%. The business’s revenue was up 53.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Analysts predict that Genesis Energy, L.P. will post -0.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were paid a $0.54 dividend. This is an increase from Genesis Energy’s previous quarterly dividend of $0.53. The ex-dividend date was Tuesday, October 30th. This represents a $2.16 annualized dividend and a dividend yield of 9.61%. Genesis Energy’s dividend payout ratio (DPR) is currently 203.77%.
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About Genesis Energy
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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