Pathstone Family Office LLC Invests $133,000 in Genesis Energy, L.P. (GEL)

Pathstone Family Office LLC bought a new position in Genesis Energy, L.P. (NYSE:GEL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,200 shares of the pipeline company’s stock, valued at approximately $133,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ffcm LLC grew its stake in shares of Genesis Energy, L.P. by 205.4% in the second quarter. Ffcm LLC now owns 3,573 shares of the pipeline company’s stock worth $116,000 after acquiring an additional 2,403 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Genesis Energy, L.P. by 44.9% in the first quarter. Chicago Partners Investment Group LLC now owns 4,186 shares of the pipeline company’s stock worth $136,000 after acquiring an additional 1,297 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Genesis Energy, L.P. by 13.0% in the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after acquiring an additional 570 shares during the last quarter. Kings Point Capital Management grew its stake in shares of Genesis Energy, L.P. by 24.3% in the first quarter. Kings Point Capital Management now owns 5,110 shares of the pipeline company’s stock worth $166,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of Genesis Energy, L.P. by 188.8% in the second quarter. Penserra Capital Management LLC now owns 5,291 shares of the pipeline company’s stock worth $166,000 after acquiring an additional 3,459 shares during the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

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Genesis Energy, L.P. (GEL) opened at 26.41 on Thursday. Genesis Energy, L.P. has a 12-month low of $25.71 and a 12-month high of $38.36. The firm has a 50-day moving average price of $27.39 and a 200-day moving average price of $30.42. The company has a market cap of $3.24 billion, a P/E ratio of 27.25 and a beta of 1.22.

Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.05. The business had revenue of $406.72 million for the quarter, compared to the consensus estimate of $503.22 million. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. On average, analysts forecast that Genesis Energy, L.P. will post $1.06 earnings per share for the current fiscal year.

In related news, Director Kenneth M. Jastrow II acquired 27,196 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of $26.74 per share, with a total value of $727,221.04. Following the acquisition, the director now directly owns 9,397 shares in the company, valued at approximately $251,275.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth M. Jastrow II acquired 7,804 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $27.25 per share, with a total value of $212,659.00. Following the acquisition, the director now owns 35,000 shares in the company, valued at $953,750. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

A number of research firms have recently commented on GEL. BidaskClub cut Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Zacks Investment Research raised Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $35.00 price objective (down from $37.00) on shares of Genesis Energy, L.P. in a research report on Thursday, July 13th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $34.00 price objective on shares of Genesis Energy, L.P. in a research report on Monday, August 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Genesis Energy, L.P. currently has an average rating of “Hold” and a consensus target price of $37.18.

Genesis Energy, L.P. Company Profile

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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Institutional Ownership by Quarter for Genesis Energy, L.P. (NYSE:GEL)

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