Manning & Napier Advisors LLC Buys 100,000 Shares of Genesis Energy, L.P. (NYSE:GEL)

Manning & Napier Advisors LLC grew its stake in Genesis Energy, L.P. (NYSE:GEL) by 40.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 350,000 shares of the pipeline company’s stock after purchasing an additional 100,000 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Genesis Energy were worth $3,538,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GEL. Millburn Ridgefield Corp purchased a new stake in shares of Genesis Energy in the third quarter valued at approximately $59,000. Wealth Enhancement Advisory Services LLC bought a new stake in Genesis Energy during the 3rd quarter valued at $139,000. Stifel Financial Corp lifted its holdings in shares of Genesis Energy by 10.8% in the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after buying an additional 1,819 shares during the period. Mutual Advisors LLC grew its position in shares of Genesis Energy by 101.8% during the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock worth $341,000 after buying an additional 16,099 shares in the last quarter. Finally, Axiom Advisory LLC increased its stake in shares of Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after buying an additional 794 shares during the period. 66.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GEL has been the subject of a number of research reports. Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th.

Genesis Energy Trading Down 0.8 %

Shares of NYSE:GEL opened at $10.46 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The company has a market capitalization of $1.28 billion, a PE ratio of -14.13 and a beta of 2.14. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $15.17. The business’s fifty day simple moving average is $10.72 and its 200-day simple moving average is $12.27.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The company had revenue of $714.30 million during 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 business earned $0.29 EPS.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 6.31%. Genesis Energy’s dividend payout ratio (DPR) is presently -89.19%.

About Genesis Energy

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.