BBR Partners LLC Buys Shares of 48,461 Genesis Energy, L.P. (NYSE:GEL)

BBR Partners LLC purchased a new position in Genesis Energy, L.P. (NYSE:GEL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 48,461 shares of the pipeline company’s stock, valued at approximately $648,000.

Other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Genesis Energy during the 3rd quarter worth about $139,000. Van ECK Associates Corp grew its holdings in shares of Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after buying an additional 3,073 shares in the last quarter. Axiom Advisory LLC raised its position in shares of Genesis Energy by 2.8% in the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after buying an additional 794 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Genesis Energy by 40.9% during the second quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock valued at $443,000 after buying an additional 8,984 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Genesis Energy by 2.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after buying an additional 887 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Stock Performance

NYSE:GEL opened at $11.80 on Thursday. The company has a market cap of $1.45 billion, a P/E ratio of -15.95 and a beta of 2.12. The firm’s 50 day moving average is $12.55 and its two-hundred day moving average is $13.15. Genesis Energy, L.P. has a fifty-two week low of $10.01 and a fifty-two week high of $15.17. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. The firm had revenue of $714.30 million for the quarter. During the same period last year, the firm posted $0.29 EPS.

Genesis Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.165 dividend. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend was Thursday, October 31st. Genesis Energy’s payout ratio is currently -89.19%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. StockNews.com lowered Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada raised their price target on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th.

Genesis Energy Profile

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.