Flax Pond Capital LLC Invests $1.46 Million in Genesis Energy, L.P. $GEL

Flax Pond Capital LLC bought a new position in shares of Genesis Energy, L.P. (NYSE:GEL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 93,371 shares of the pipeline company’s stock, valued at approximately $1,457,000. Flax Pond Capital LLC owned about 0.08% of Genesis Energy at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GEL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Genesis Energy by 29.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock valued at $107,285,000 after buying an additional 1,465,339 shares during the last quarter. Morgan Stanley boosted its stake in shares of Genesis Energy by 39.9% during the 4th quarter. Morgan Stanley now owns 4,054,770 shares of the pipeline company’s stock worth $63,254,000 after buying an additional 1,156,884 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Genesis Energy by 3.7% during the 4th quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company’s stock worth $388,587,000 after buying an additional 890,193 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Genesis Energy by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock valued at $63,934,000 after acquiring an additional 478,530 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Genesis Energy by 31.3% in the 4th quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock valued at $28,301,000 after acquiring an additional 432,771 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

Shares of GEL stock opened at $14.59 on Friday. The stock has a market cap of $1.79 billion, a P/E ratio of -76.76 and a beta of 0.63. The company has a debt-to-equity ratio of 25.62, a current ratio of 0.98 and a quick ratio of 0.92. The company has a fifty day moving average price of $16.13 and a two-hundred day moving average price of $16.64. Genesis Energy, L.P. has a one year low of $13.80 and a one year high of $18.64.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $446.56 million. Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($4.06) earnings per share.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Thursday, April 30th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, April 30th. This represents a $0.72 dividend on an annualized basis and a yield of 4.9%. Genesis Energy’s dividend payout ratio (DPR) is presently -378.95%.

Analysts Set New Price Targets

Several research firms recently issued reports on GEL. Weiss Ratings lowered Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday. Wells Fargo & Company decreased their price target on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Genesis Energy currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Insiders Place Their Bets

In other Genesis Energy news, SVP Garland G. Gaspard purchased 12,340 shares of the stock in a transaction on Monday, May 18th. The shares were purchased at an average price of $16.34 per share, with a total value of $201,635.60. Following the completion of the transaction, the senior vice president directly owned 36,881 shares in the company, valued at $602,635.54. This 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 accessible through the SEC website. 0.72% of the stock is currently owned by company insiders.

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.