Manning & Napier Advisors LLC Has $3.54 Million Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

Manning & Napier Advisors LLC raised its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 350,000 shares of the pipeline company's stock after acquiring an additional 100,000 shares during the quarter. Manning & Napier Advisors LLC owned approximately 0.29% of Genesis Energy worth $3,538,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Axiom Advisory LLC boosted its position in Genesis Energy by 2.8% in the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company's stock valued at $400,000 after buying an additional 794 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Genesis Energy by 1.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company's stock worth $1,777,000 after acquiring an additional 1,286 shares during the last quarter. Creative Planning increased its holdings in Genesis Energy by 1.9% during the 3rd quarter. Creative Planning now owns 3,105,454 shares of the pipeline company's stock valued at $41,520,000 after purchasing an additional 59,263 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Genesis Energy in the 3rd quarter valued at $139,000. Finally, ING Groep NV boosted its stake in Genesis Energy by 15.1% in the third quarter. ING Groep NV now owns 762,700 shares of the pipeline company's stock worth $10,197,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on GEL. Capital One Financial raised Genesis Energy from an "equal weight" rating to an "overweight" rating in a report on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th.

Genesis Energy Stock Up 0.5 %

GEL traded up $0.06 during trading on Thursday, reaching $10.53. The company had a trading volume of 290,485 shares, compared to its average volume of 488,464. The business's fifty day moving average price is $10.72 and its 200 day moving average price is $12.27. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. Genesis Energy, L.P. has a 12 month low of $9.86 and a 12 month high of $15.17. The company has a market cap of $1.29 billion, a P/E ratio of -14.13 and a beta of 2.14.

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 the consensus estimate of ($0.10) by ($0.22). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. The firm had revenue of $714.30 million during the quarter. During the same quarter last year, the company earned $0.29 earnings per share.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, January 31st. Genesis Energy's dividend payout ratio is presently -89.19%.

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.