Invesco Ltd. Increases Position in Genesis Energy, L.P. (NYSE:GEL)

Invesco Ltd. grew its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,390,648 shares of the pipeline company's stock after purchasing an additional 178,369 shares during the period. Invesco Ltd. owned approximately 15.02% of Genesis Energy worth $185,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of GEL. JPMorgan Chase & Co. raised its stake in shares of Genesis Energy by 9.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock valued at $47,169,000 after acquiring an additional 418,555 shares during the period. Tejara Capital Ltd acquired a new stake in shares of Genesis Energy in the fourth quarter valued at $3,205,000. Rangeley Capital LLC purchased a new stake in shares of Genesis Energy in the 4th quarter valued at $2,133,000. Summit Financial LLC acquired a new position in Genesis Energy during the 4th quarter worth about $2,128,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in Genesis Energy by 5,667.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 190,342 shares of the pipeline company's stock valued at $1,972,000 after acquiring an additional 187,042 shares during the period. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Stock Performance

NYSE GEL traded down $0.04 during trading hours on Tuesday, hitting $13.71. The company had a trading volume of 326,185 shares, compared to its average volume of 491,613. The business has a 50 day moving average of $13.34 and a 200-day moving average of $12.10. The company has a market cap of $1.68 billion, a PE ratio of -11.05 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. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03.

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Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly 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 firm had revenue of $725.55 million for 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 will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a yield of 4.82%. Genesis Energy's dividend payout ratio is presently -53.23%.

Wall Street Analyst Weigh In

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