Manning & Napier Advisors LLC Increases Stock Position in Genesis Energy, L.P. (NYSE:GEL)

Manning & Napier Advisors LLC grew its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the pipeline company’s stock after purchasing an additional 100,000 shares during the period. Manning & Napier Advisors LLC owned approximately 0.29% of Genesis Energy worth $3,538,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Millburn Ridgefield Corp purchased a new position in Genesis Energy during the 3rd quarter valued at approximately $59,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Genesis Energy in the third quarter valued at $139,000. Stifel Financial Corp increased its position in Genesis Energy by 10.8% in the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 1,819 shares during the last quarter. Axiom Advisory LLC raised its stake in Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 794 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Genesis Energy by 2.9% during the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 900 shares during the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Stock Down 0.8 %

NYSE GEL opened at $10.46 on Thursday. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $15.17. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -14.13 and a beta of 2.14. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The company has a fifty day moving average of $10.72 and a two-hundred day moving average of $12.27.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results 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 in the previous year, the company posted $0.29 earnings per share.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.165 per share. The ex-dividend date is Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.31%. Genesis Energy’s dividend payout ratio is -89.19%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GEL shares. Royal Bank of Canada boosted their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a 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.

Genesis Energy Company 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.