ELCO Management Co. LLC Raises Position in Genesis Energy, L.P. (NYSE:GEL)

ELCO Management Co. LLC increased its holdings in Genesis Energy, L.P. (NYSE:GEL) by 258.0% in the first quarter, Holdings Channel.com reports. The firm owned 86,806 shares of the pipeline company’s stock after purchasing an additional 62,561 shares during the period. ELCO Management Co. LLC’s holdings in Genesis Energy were worth $977,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its position in shares of Genesis Energy by 4.6% in the fourth quarter. Alps Advisors Inc. now owns 16,265,444 shares of the pipeline company’s stock worth $166,070,000 after acquiring an additional 709,095 shares during the last quarter. FMR LLC grew its stake in shares of Genesis Energy by 2.1% during the 1st quarter. FMR LLC now owns 7,558,335 shares of the pipeline company’s stock valued at $85,107,000 after buying an additional 158,237 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Genesis Energy by 12.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,307,420 shares of the pipeline company’s stock valued at $64,399,000 after buying an additional 690,432 shares during the period. RR Advisors LLC increased its holdings in shares of Genesis Energy by 5.9% during the 1st quarter. RR Advisors LLC now owns 5,529,000 shares of the pipeline company’s stock worth $62,255,000 after buying an additional 306,000 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its position in shares of Genesis Energy by 0.6% in the 1st quarter. Chickasaw Capital Management LLC now owns 3,678,510 shares of the pipeline company’s stock worth $41,420,000 after buying an additional 22,970 shares during the period. 65.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Genesis Energy from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. StockNews.com began coverage on shares of Genesis Energy in a research report on Thursday, August 17th. They set a “hold” rating for the company.

Insider Transactions at Genesis Energy

In other Genesis Energy news, insider Edward T. Flynn acquired 10,000 shares of the stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $9.69 per share, for a total transaction of $96,900.00. Following the purchase, the insider now directly owns 130,000 shares in the company, valued at $1,259,700. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Edward T. Flynn acquired 10,000 shares of Genesis Energy stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $9.69 per share, for a total transaction of $96,900.00. Following the purchase, the insider now directly owns 130,000 shares of the company’s stock, valued at approximately $1,259,700. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey J. Rasmussen bought 5,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $9.37 per share, with a total value of $46,850.00. Following the transaction, the vice president now directly owns 23,500 shares in the company, valued at approximately $220,195. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Genesis Energy Stock Up 1.2 %

NYSE GEL traded up $0.13 on Friday, reaching $10.58. The company had a trading volume of 360,826 shares, compared to its average volume of 357,357. The company has a debt-to-equity ratio of 4.06, a current ratio of 1.13 and a quick ratio of 0.99. Genesis Energy, L.P. has a 1 year low of $8.05 and a 1 year high of $12.37. The firm has a 50-day moving average of $9.65 and a 200-day moving average of $10.30. The firm has a market capitalization of $1.30 billion, a PE ratio of 264.50 and a beta of 2.14.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, August 3rd. The pipeline company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.05). Genesis Energy had a net margin of 3.07% and a return on equity of 10.73%. The firm had revenue of $804.70 million during the quarter. During the same period in the previous year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a dividend of $0.15 per share. The ex-dividend date was Friday, July 28th. This represents a $0.60 annualized dividend and a dividend yield of 5.67%. Genesis Energy’s dividend payout ratio is presently 1,500.00%.

Genesis Energy Company Profile

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.