Raymond James Financial Inc. Takes $943,000 Position in Genesis Energy, L.P. (NYSE:GEL)

Raymond James Financial Inc. purchased a new stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GEL. ING Groep NV lifted its stake in shares of Genesis Energy by 12.1% during the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company's stock worth $8,644,000 after purchasing an additional 92,300 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in shares of Genesis Energy by 40.0% during the fourth quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company's stock valued at $3,538,000 after purchasing an additional 100,000 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in shares of Genesis Energy during the fourth quarter valued at approximately $920,000. Stifel Financial Corp lifted its position in shares of Genesis Energy by 10.8% during 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 in the last quarter. Finally, Mutual Advisors LLC boosted its stake in shares of Genesis Energy by 101.8% in the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock valued at $341,000 after purchasing an additional 16,099 shares during the period. Hedge funds and other institutional investors own 66.82% of the company's stock.

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Genesis Energy Stock Performance

Shares of NYSE:GEL traded down $0.54 on Monday, reaching $12.75. 892,977 shares of the company's stock were exchanged, compared to its average volume of 729,197. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $16.44. The business's 50-day moving average is $12.90 and its two-hundred day moving average is $12.09. 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 firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -10.28 and a beta of 1.39.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its earnings results 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). The business had revenue of $725.55 million during the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%.

Genesis Energy Dividend Announcement

The firm 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. This represents a $0.66 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy's dividend payout ratio (DPR) is -53.23%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GEL shares. Wells Fargo & Company upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $15.00 to $18.00 in a report on Monday, March 17th. Royal Bank of Canada boosted their price target on Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th.

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.