Genesis Energy, L.P. (NYSE:GEL) Insider Purchases $11,250.00 in Stock

Genesis Energy, L.P. (NYSE:GEL) insider Ryan S. Sims purchased 1,000 shares of Genesis Energy stock in a transaction on Friday, November 8th. The stock was bought at an average price of $11.25 per share, with a total value of $11,250.00. Following the transaction, the insider now owns 22,500 shares of the company’s stock, valued at approximately $253,125. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Genesis Energy Trading Down 0.2 %

GEL traded down $0.02 on Tuesday, hitting $11.22. The company had a trading volume of 3,158 shares, compared to its average volume of 379,334. The company has a market cap of $1.37 billion, a PE ratio of -15.19 and a beta of 2.12. Genesis Energy, L.P. has a 12-month low of $10.01 and a 12-month high of $15.17. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The business’s fifty day simple moving average is $12.88 and its 200 day simple moving average is $13.23.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. The business had revenue of $714.30 million for the quarter. During the same period in the previous year, the business earned $0.29 EPS.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 5.88%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, October 31st. Genesis Energy’s dividend payout ratio is presently -89.19%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Genesis Energy

Several hedge funds have recently made changes to their positions in GEL. Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in shares of Genesis Energy during the 1st quarter worth about $111,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Genesis Energy during the 3rd quarter worth about $139,000. Van ECK Associates Corp raised its holdings in Genesis Energy by 17.4% in the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 3,073 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Genesis Energy by 4.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock worth $372,000 after buying an additional 1,550 shares during the last quarter. Finally, Axiom Advisory LLC increased its holdings in shares of Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after buying an additional 794 shares during the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

About Genesis Energy

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.