Genesis Energy, L.P. $GEL Shares Bought by Alps Advisors Inc.

Alps Advisors Inc. increased its stake in Genesis Energy, L.P. (NYSE:GEL) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,019,255 shares of the pipeline company’s stock after acquiring an additional 559,197 shares during the quarter. Genesis Energy comprises 2.2% of Alps Advisors Inc.’s holdings, making the stock its 10th largest holding. Alps Advisors Inc. owned about 0.20% of Genesis Energy worth $401,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GEL. Mather Group LLC. bought a new position in Genesis Energy during the 3rd quarter worth approximately $30,000. Geneos Wealth Management Inc. acquired a new stake in shares of Genesis Energy during the second quarter worth $49,000. CWM LLC raised its stake in Genesis Energy by 126.5% during the third quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock worth $52,000 after buying an additional 1,735 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Genesis Energy in the first quarter valued at $108,000. Finally, Osaic Holdings Inc. lifted its holdings in Genesis Energy by 91.4% in the second quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock valued at $133,000 after buying an additional 3,680 shares during the period. Institutional investors and hedge funds own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

GEL has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Genesis Energy in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Genesis Energy Stock Performance

Shares of Genesis Energy stock opened at $17.23 on Friday. The business has a 50-day simple moving average of $16.19 and a 200 day simple moving average of $16.23. Genesis Energy, L.P. has a one year low of $10.29 and a one year high of $17.77. The company has a debt-to-equity ratio of 19.90, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -3.58 and a beta of 0.84.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.2%. Genesis Energy’s payout ratio is currently -14.97%.

Genesis Energy Company Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.