Genesis Energy, L.P. (NYSE:GEL) Stock Position Lifted by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC increased its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 5,667.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,342 shares of the pipeline company's stock after buying an additional 187,042 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.16% of Genesis Energy worth $1,972,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GEL. Millburn Ridgefield Corp bought a new position in Genesis Energy in the 3rd quarter worth approximately $59,000. Stifel Financial Corp grew its stake in shares of 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 in the last quarter. Mutual Advisors LLC grew 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 worth $341,000 after purchasing an additional 16,099 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Genesis Energy by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock valued at $369,000 after purchasing an additional 1,584 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Genesis Energy during the fourth quarter valued at about $404,000. 66.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Remove Ads

Genesis Energy Trading Down 2.6 %

Shares of NYSE:GEL traded down $0.34 during midday trading on Monday, reaching $12.94. The company had a trading volume of 282,554 shares, compared to its average volume of 487,685. The company has a fifty day simple moving average of $12.90 and a two-hundred day simple moving average of $12.09. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -10.40 and a beta of 1.39. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $16.44.

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

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 5.10%. The ex-dividend date was Friday, January 31st. Genesis Energy's payout ratio is -53.23%.

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.