Raymond James Financial Services Advisors Inc. Acquires 10,675 Shares of Genesis Energy, L.P. (NYSE:GEL)

Raymond James Financial Services Advisors Inc. grew its holdings in Genesis Energy, L.P. (NYSE:GELGet Rating) by 12.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,199 shares of the pipeline company’s stock after acquiring an additional 10,675 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Genesis Energy were worth $885,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GEL. Mariner LLC boosted its position in shares of Genesis Energy by 22.8% in the first quarter. Mariner LLC now owns 42,385 shares of the pipeline company’s stock valued at $496,000 after acquiring an additional 7,868 shares during the period. UBS Group AG lifted its position in Genesis Energy by 19.6% during the first quarter. UBS Group AG now owns 1,431,719 shares of the pipeline company’s stock worth $16,766,000 after purchasing an additional 234,305 shares during the period. Vident Investment Advisory LLC lifted its position in Genesis Energy by 7.6% during the first quarter. Vident Investment Advisory LLC now owns 94,658 shares of the pipeline company’s stock worth $1,108,000 after purchasing an additional 6,657 shares during the period. Advisors Asset Management Inc. lifted its position in Genesis Energy by 4.3% during the first quarter. Advisors Asset Management Inc. now owns 190,748 shares of the pipeline company’s stock worth $2,234,000 after purchasing an additional 7,806 shares during the period. Finally, Summit Financial Wealth Advisors LLC lifted its position in Genesis Energy by 43.1% during the second quarter. Summit Financial Wealth Advisors LLC now owns 16,613 shares of the pipeline company’s stock worth $138,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 70.04% of the company’s stock.

Genesis Energy Stock Up 4.0 %

Shares of NYSE GEL opened at $11.55 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 3.90. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -12.98 and a beta of 2.21. Genesis Energy, L.P. has a 12 month low of $7.61 and a 12 month high of $13.44. The stock has a 50-day moving average price of $10.21 and a two-hundred day moving average price of $10.31.

Genesis Energy (NYSE:GELGet Rating) last issued its earnings results on Thursday, October 27th. The pipeline company reported ($0.12) EPS for the quarter. The business had revenue of $721.25 million for the quarter. Genesis Energy had a negative return on equity of 3.89% and a negative net margin of 1.31%.

Genesis Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend is Monday, January 30th. Genesis Energy’s payout ratio is -67.42%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GEL. StockNews.com began coverage on shares of Genesis Energy in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Royal Bank of Canada upped their price objective on shares of Genesis Energy from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, October 28th.

About Genesis Energy

(Get Rating)

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deepwater pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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