Raymond James Financial Inc. Purchases Shares of 93,246 Genesis Energy, L.P. (NYSE:GEL)

Raymond James Financial Inc. acquired a new stake in Genesis Energy, L.P. (NYSE:GEL - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 93,246 shares of the pipeline company's stock, valued at approximately $943,000. Raymond James Financial Inc. owned approximately 0.08% of Genesis Energy at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of GEL. Chickasaw Capital Management LLC increased its position in shares of Genesis Energy by 0.4% in the fourth quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company's stock worth $38,776,000 after purchasing an additional 15,027 shares during the period. ING Groep NV increased its holdings in Genesis Energy by 12.1% in the 4th quarter. ING Groep NV now owns 855,000 shares of the pipeline company's stock valued at $8,644,000 after buying an additional 92,300 shares during the period. Manning & Napier Advisors LLC lifted its holdings in shares of Genesis Energy by 40.0% during the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company's stock worth $3,538,000 after acquiring an additional 100,000 shares during the period. Concurrent Investment Advisors LLC bought a new position in Genesis Energy in the fourth quarter valued at approximately $920,000. Finally, ARS Investment Partners LLC raised its position in Genesis Energy by 35.9% during the fourth quarter. ARS Investment Partners LLC now owns 46,000 shares of the pipeline company's stock valued at $465,000 after purchasing an additional 12,154 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GEL has been the subject of a number of research analyst reports. Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $15.00 to $18.00 in a report on Monday, March 17th. Royal Bank of Canada lifted their price target on shares of Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Monday, March 17th.

Genesis Energy Price Performance

GEL stock traded up $0.86 during midday trading on Wednesday, reaching $13.36. 1,313,916 shares of the stock were exchanged, compared to its average volume of 493,263. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The stock has a market capitalization of $1.64 billion, a PE ratio of -10.77 and a beta of 1.39. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $16.44. The company has a fifty day moving average price of $13.14 and a 200 day moving average price of $12.10.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The business had revenue of $725.55 million during the quarter.

Genesis Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a yield of 4.94%. Genesis Energy's payout ratio is -53.23%.

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.