Sanders Morris Harris Inc. Has $1.589 Million Stake in Genesis Energy, L.P. (GEL)
Sanders Morris Harris Inc. raised its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,000 shares of the pipeline company’s stock after buying an additional 1,000 shares during the period. Sanders Morris Harris Inc.’s holdings in Genesis Energy, L.P. were worth $1,589,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of GEL. Miller Howard Investments Inc. NY raised its position in Genesis Energy, L.P. by 45.5% in the third quarter. Miller Howard Investments Inc. NY now owns 3,250,526 shares of the pipeline company’s stock valued at $123,422,000 after buying an additional 1,016,779 shares during the last quarter. Alps Advisors Inc. raised its position in Genesis Energy, L.P. by 11.0% in the third quarter. Alps Advisors Inc. now owns 6,532,237 shares of the pipeline company’s stock valued at $248,029,000 after buying an additional 649,337 shares during the last quarter. Eagle Global Advisors LLC raised its position in Genesis Energy, L.P. by 46.6% in the third quarter. Eagle Global Advisors LLC now owns 1,020,410 shares of the pipeline company’s stock valued at $38,745,000 after buying an additional 324,550 shares during the last quarter. RR Advisors LLC raised its position in Genesis Energy, L.P. by 16.8% in the fourth quarter. RR Advisors LLC now owns 2,029,000 shares of the pipeline company’s stock valued at $73,107,000 after buying an additional 292,000 shares during the last quarter. Finally, Third Security LLC acquired a new position in Genesis Energy, L.P. during the fourth quarter valued at $7,816,000. Institutional investors and hedge funds own 72.58% of the company’s stock.
Shares of Genesis Energy, L.P. (NYSE:GEL) traded down 0.09% during trading on Friday, reaching $31.78. 105,603 shares of the company’s stock were exchanged. The company has a 50 day moving average of $32.67 and a 200 day moving average of $34.57. Genesis Energy, L.P. has a 52-week low of $30.01 and a 52-week high of $40.90. The firm has a market capitalization of $3.75 billion, a P/E ratio of 31.84 and a beta of 1.24.
Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings data on Thursday, February 16th. The pipeline company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.13. The business had revenue of $428.05 million for the quarter, compared to the consensus estimate of $583.49 million. Genesis Energy, L.P. had a return on equity of 5.70% and a net margin of 6.68%. Genesis Energy, L.P.’s revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. Equities analysts anticipate that Genesis Energy, L.P. will post $1.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 9.05%. This is an increase from Genesis Energy, L.P.’s previous quarterly dividend of $0.71. The ex-dividend date is Wednesday, April 26th. Genesis Energy, L.P.’s dividend payout ratio (DPR) is presently 267.93%.
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GEL has been the topic of several recent research reports. Mitsubishi UFJ Financial Group restated a “neutral” rating and set a $37.00 target price (down previously from $38.00) on shares of Genesis Energy, L.P. in a report on Thursday, March 23rd. Mitsubishi UFJ Financial Group Inc reduced their target price on shares of Genesis Energy, L.P. from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, March 24th. Vetr lowered shares of Genesis Energy, L.P. from a “strong-buy” rating to a “buy” rating and set a $38.00 target price on the stock. in a report on Wednesday, March 15th. Zacks Investment Research lowered shares of Genesis Energy, L.P. from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 14th. Finally, Capital One Financial Corp. lowered shares of Genesis Energy, L.P. from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $40.00 to $39.00 in a report on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.58.
About Genesis Energy, L.P.
Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.
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