Genesis Energy, L.P. (NYSE:GEL) CFO Robert V. Deere acquired 34,000 shares of the stock in a transaction dated Tuesday, June 13th. The stock was bought at an average cost of $30.34 per share, with a total value of $1,031,560.00. Following the completion of the purchase, the chief financial officer now directly owns 783,935 shares in the company, valued at $23,784,587.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Genesis Energy, L.P. (GEL) traded down 1.98% during midday trading on Wednesday, hitting $29.75. The stock had a trading volume of 243,133 shares. Genesis Energy, L.P. has a 52-week low of $29.50 and a 52-week high of $40.90. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 32.73 and a beta of 1.19. The firm’s 50 day moving average price is $31.23 and its 200 day moving average price is $33.49.

Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings data on Thursday, May 4th. The pipeline company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Genesis Energy, L.P. had a return on equity of 4.98% and a net margin of 6.00%. The firm had revenue of $415.50 million for the quarter, compared to analysts’ expectations of $468.64 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Genesis Energy, L.P. will post $1.13 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 9.49%. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Wednesday, April 26th. Genesis Energy, L.P.’s dividend payout ratio is 313.04%.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its position in Genesis Energy, L.P. by 44.9% in the first quarter. Chicago Partners Investment Group LLC now owns 4,186 shares of the pipeline company’s stock worth $136,000 after buying an additional 1,297 shares during the period. Kings Point Capital Management boosted its position in Genesis Energy, L.P. by 24.3% in the first quarter. Kings Point Capital Management now owns 5,110 shares of the pipeline company’s stock worth $166,000 after buying an additional 1,000 shares during the period. Lucas Capital Management boosted its position in Genesis Energy, L.P. by 9.4% in the first quarter. Lucas Capital Management now owns 7,000 shares of the pipeline company’s stock worth $227,000 after buying an additional 600 shares during the period. Proficio Capital Partners LLC boosted its position in Genesis Energy, L.P. by 383.9% in the first quarter. Proficio Capital Partners LLC now owns 8,473 shares of the pipeline company’s stock worth $270,000 after buying an additional 6,722 shares during the period. Finally, Paragon Capital Management Ltd purchased a new position in Genesis Energy, L.P. during the first quarter worth approximately $292,000. Institutional investors own 74.24% of the company’s stock.

Several equities research analysts have recently issued reports on GEL shares. Vetr lowered Genesis Energy, L.P. from a “strong-buy” rating to a “buy” rating and set a $38.00 price objective for the company. in a research note on Wednesday, March 15th. Capital One Financial Corporation lowered Genesis Energy, L.P. from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $40.00 to $39.00 in a research note on Friday, February 17th. Zacks Investment Research raised Genesis Energy, L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Mitsubishi UFJ Financial Group Inc lowered their price objective on Genesis Energy, L.P. from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, March 24th. Finally, Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating and issued a $37.00 price objective (down from $38.00) on shares of Genesis Energy, L.P. in a research note on Thursday, March 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Genesis Energy, L.P. has a consensus rating of “Hold” and a consensus target price of $39.50.

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.

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