Creative Planning Acquires 59,263 Shares of Genesis Energy, L.P. (NYSE:GEL)

Creative Planning raised its position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,105,454 shares of the pipeline company's stock after purchasing an additional 59,263 shares during the quarter. Creative Planning owned 2.54% of Genesis Energy worth $41,520,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Genesis Energy during the first quarter worth approximately $55,000. Paragon Associates & Paragon Associates II Joint Venture purchased a new position in shares of Genesis Energy during the 1st quarter valued at $111,000. Pettinga Financial Advisors LLC grew its holdings in shares of Genesis Energy by 9.9% during the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company's stock valued at $248,000 after acquiring an additional 2,000 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Genesis Energy by 17.4% in the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company's stock worth $297,000 after acquiring an additional 3,073 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Genesis Energy by 4.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company's stock worth $372,000 after acquiring an additional 1,550 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Genesis Energy from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Wednesday. StockNews.com downgraded Genesis Energy from a "hold" rating to a "sell" rating in a report on Monday, August 5th.

Insiders Place Their Bets

In other news, VP Garland G. Gaspard purchased 2,261 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were bought at an average price of $13.27 per share, with a total value of $30,003.47. Following the completion of the transaction, the vice president now directly owns 19,525 shares in the company, valued at $259,096.75. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company's stock.

Genesis Energy Stock Down 0.3 %

Shares of Genesis Energy stock traded down $0.04 during midday trading on Friday, reaching $13.19. 200,538 shares of the company's stock traded hands, compared to its average volume of 356,868. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09. Genesis Energy, L.P. has a 52 week low of $10.01 and a 52 week high of $15.17. The company's 50 day simple moving average is $13.31 and its 200 day simple moving average is $13.20. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 38.79 and a beta of 2.10.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.22). The company had revenue of $756.26 million for the quarter. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. During the same quarter in the prior year, the business posted $0.22 EPS.

Genesis Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.165 dividend. This is a positive change from Genesis Energy's previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 5.00%. The ex-dividend date is Thursday, October 31st. Genesis Energy's payout ratio is 194.12%.

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.