Corient Private Wealth LLC Buys Shares of 55,000 Genesis Energy, L.P. $GEL

Corient Private Wealth LLC purchased a new position in shares of Genesis Energy, L.P. (NYSE:GEL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 55,000 shares of the pipeline company’s stock, valued at approximately $858,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada grew its holdings in Genesis Energy by 220.6% in the first quarter. Royal Bank of Canada now owns 177,686 shares of the pipeline company’s stock valued at $2,788,000 after purchasing an additional 122,271 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Genesis Energy in the 1st quarter valued at $108,000. Goldman Sachs Group Inc. grew its stake in shares of Genesis Energy by 13.3% during 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 buying an additional 478,530 shares during the period. Cetera Investment Advisers grew its stake in shares of Genesis Energy by 42.9% during the 2nd quarter. Cetera Investment Advisers now owns 17,543 shares of the pipeline company’s stock valued at $302,000 after buying an additional 5,267 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of Genesis Energy during the 2nd quarter worth $3,069,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Insider Buying and Selling at Genesis Energy

In related news, SVP Garland G. Gaspard bought 12,340 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $16.34 per share, for a total transaction of $201,635.60. Following the purchase, the senior vice president owned 36,881 shares in the company, valued at $602,635.54. This trade represents a 50.28% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on GEL shares. Weiss Ratings lowered Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Wells Fargo & Company lowered their price target on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Genesis Energy Stock Performance

Shares of GEL opened at $14.20 on Friday. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -74.73 and a beta of 0.62. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 25.62. The business’s 50 day moving average is $15.50 and its two-hundred day moving average is $16.52. Genesis Energy, L.P. has a 52-week low of $13.75 and a 52-week high of $18.64.

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

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $0.72 annualized dividend and a dividend yield of 5.1%. Genesis Energy’s payout ratio is presently -378.95%.

Genesis Energy 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.