ING Groep NV Raises Stock Position in Genesis Energy, L.P. (NYSE:GEL)

ING Groep NV raised its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 15.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 762,700 shares of the pipeline company's stock after purchasing an additional 100,000 shares during the quarter. ING Groep NV owned approximately 0.62% of Genesis Energy worth $10,197,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Genesis Energy by 4.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company's stock valued at $372,000 after buying an additional 1,550 shares in the last quarter. Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Genesis Energy during the first quarter valued at approximately $111,000. Advisors Asset Management Inc. lifted its holdings in shares of Genesis Energy by 19.9% during the first quarter. Advisors Asset Management Inc. now owns 208,150 shares of the pipeline company's stock valued at $2,315,000 after purchasing an additional 34,614 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Genesis Energy by 6.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company's stock worth $61,411,000 after purchasing an additional 262,784 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Genesis Energy in the 2nd quarter worth approximately $1,073,000. 66.82% of the stock is currently owned by institutional investors.

Genesis Energy Stock Performance

Shares of GEL stock traded up $0.28 on Friday, reaching $11.80. The stock had a trading volume of 484,395 shares, compared to its average volume of 382,140. The stock has a market cap of $1.44 billion, a P/E ratio of -15.94 and a beta of 2.12. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. Genesis Energy, L.P. has a 1 year low of $10.01 and a 1 year high of $15.17. The company has a 50 day simple moving average of $12.73 and a 200 day simple moving average of $13.19.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.22). The firm had revenue of $714.30 million for the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same period in the prior year, the company posted $0.29 EPS.

Genesis Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 5.60%. This is a positive change from Genesis Energy's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, October 31st. Genesis Energy's dividend payout ratio is -89.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GEL shares. Capital One Financial upgraded Genesis Energy from an "equal weight" rating to an "overweight" rating in a report on Friday, November 1st. Royal Bank of Canada lifted 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. Finally, StockNews.com downgraded shares of Genesis Energy from a "hold" rating to a "sell" rating in a research report on Monday, August 5th.

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.