Alps Advisors Inc. Buys 890,193 Shares of Genesis Energy, L.P. $GEL

Alps Advisors Inc. grew its stake in Genesis Energy, L.P. (NYSE:GEL) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,909,448 shares of the pipeline company’s stock after purchasing an additional 890,193 shares during the period. Genesis Energy makes up approximately 2.3% of Alps Advisors Inc.’s portfolio, making the stock its 9th biggest holding. Alps Advisors Inc. owned about 0.20% of Genesis Energy worth $388,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. ING Groep NV increased its holdings in shares of Genesis Energy by 5.3% in the fourth quarter. ING Groep NV now owns 2,500,800 shares of the pipeline company’s stock valued at $39,012,000 after purchasing an additional 125,000 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Genesis Energy by 2.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,192,745 shares of the pipeline company’s stock valued at $81,007,000 after purchasing an additional 135,434 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Genesis Energy in the fourth quarter valued at approximately $3,120,000. ProShare Advisors LLC acquired a new position in shares of Genesis Energy in the fourth quarter valued at approximately $164,000. Finally, HighTower Advisors LLC increased its holdings in shares of Genesis Energy by 3.0% in the fourth quarter. HighTower Advisors LLC now owns 103,388 shares of the pipeline company’s stock valued at $1,613,000 after purchasing an additional 3,040 shares during the period. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Up 0.5%

Genesis Energy stock opened at $15.64 on Friday. The company has a debt-to-equity ratio of 25.62, a quick ratio of 0.92 and a current ratio of 0.98. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -82.29 and a beta of 0.63. Genesis Energy, L.P. has a fifty-two week low of $14.55 and a fifty-two week high of $18.64. The stock’s fifty day moving average is $16.50 and its two-hundred day moving average is $16.68.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.22). The firm had revenue of $446.56 million during the quarter, compared to analyst estimates of $446.56 million. Genesis Energy had a net margin of 2.11% and a return on equity of 23.65%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company posted ($4.06) EPS.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.72 annualized dividend and a yield of 4.6%. Genesis Energy’s dividend payout ratio is -378.95%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GEL shares. Wells Fargo & Company dropped their price objective on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings raised Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Genesis Energy has an average rating of “Moderate Buy” and an average price target of $19.00.

Insiders Place Their Bets

In other news, SVP Garland G. Gaspard bought 12,340 shares of the stock in a transaction on Monday, May 18th. The shares were bought at an average price of $16.34 per share, with a total value of $201,635.60. Following the completion of the acquisition, the senior vice president owned 36,881 shares of the company’s stock, valued at approximately $602,635.54. This trade represents a 50.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

About Genesis Energy

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.