Genesis Energy, L.P. (NYSE:GEL - Get Free Report) insider Ryan S. Sims bought 1,000 shares of Genesis Energy stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $11,250.00. Following the purchase, the insider now owns 22,500 shares of the company's stock, valued at $253,125. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Genesis Energy Stock Down 4.0 %
GEL stock opened at $10.79 on Wednesday. The firm has a 50 day moving average price of $12.82 and a 200-day moving average price of $13.22. Genesis Energy, L.P. has a 52-week low of $10.01 and a 52-week high of $15.17. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.
Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The firm had revenue of $714.30 million for the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same period in the prior year, the business earned $0.29 earnings per share.
Genesis Energy Increases Dividend
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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 6.12%. This is an increase from Genesis Energy's previous quarterly dividend of $0.15. Genesis Energy's dividend payout ratio (DPR) is -89.19%.
Hedge Funds Weigh In On Genesis Energy
Several hedge funds and other institutional investors have recently modified their holdings of the company. Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Genesis Energy in the 1st quarter worth approximately $111,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Genesis Energy during the 3rd quarter valued at about $139,000. Van ECK Associates Corp boosted its holdings in shares of Genesis Energy by 17.4% during the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company's stock valued at $297,000 after purchasing an additional 3,073 shares during the last quarter. Axiom Advisory LLC boosted its holdings in shares of Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company's stock valued at $400,000 after purchasing an additional 794 shares during the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Genesis Energy by 40.9% in the 2nd quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company's stock valued at $443,000 after acquiring an additional 8,984 shares during the last quarter. 66.82% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently commented on GEL shares. Royal Bank of Canada increased their target price on Genesis Energy from $15.00 to $16.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. StockNews.com cut Genesis Energy from a "hold" rating to a "sell" rating in a research note on Monday, August 5th. Finally, Capital One Financial upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating in a report on Friday, November 1st.
Check Out Our Latest Analysis on GEL
About Genesis Energy
(
Get Free Report)
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.
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