Genesis Energy, L.P. (NYSE:GEL) CEO Grant E. Sims acquired 44,263 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $22.93 per share, for a total transaction of $1,014,950.59. Following the completion of the acquisition, the chief executive officer now directly owns 2,971,694 shares in the company, valued at $68,140,943.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Genesis Energy, L.P. (GEL) opened at $22.19 on Tuesday. Genesis Energy, L.P. has a twelve month low of $22.19 and a twelve month high of $37.88. The stock has a market cap of $2,788.99, a price-to-earnings ratio of 24.74, a P/E/G ratio of 2.83 and a beta of 1.18. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 1.80.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date is Monday, October 30th. Genesis Energy, L.P.’s dividend payout ratio (DPR) is presently 281.69%.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ffcm LLC boosted its holdings in Genesis Energy, L.P. by 205.4% during the second quarter. Ffcm LLC now owns 3,573 shares of the pipeline company’s stock worth $116,000 after buying an additional 2,403 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Genesis Energy, L.P. by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after buying an additional 271 shares in the last quarter. Pathstone Family Office LLC purchased a new stake in Genesis Energy, L.P. during the second quarter worth $133,000. Bank of Montreal Can boosted its holdings in Genesis Energy, L.P. by 13.0% during the second quarter. Bank of Montreal Can now owns 4,959 shares of the pipeline company’s stock worth $158,000 after buying an additional 570 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in Genesis Energy, L.P. by 188.8% during the second quarter. Penserra Capital Management LLC now owns 5,291 shares of the pipeline company’s stock worth $166,000 after buying an additional 3,459 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on GEL shares. UBS AG dropped their price objective on shares of Genesis Energy, L.P. from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Robert W. Baird set a $29.00 price objective on shares of Genesis Energy, L.P. and gave the company a “buy” rating in a report on Friday, October 13th. Janney Montgomery Scott set a $30.00 price objective on shares of Genesis Energy, L.P. and gave the company a “buy” rating in a report on Friday, October 13th. Zacks Investment Research raised shares of Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Thursday, November 9th. Finally, Barclays PLC raised shares of Genesis Energy, L.P. from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $31.00 to $27.00 in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Genesis Energy, L.P. currently has a consensus rating of “Hold” and a consensus price target of $33.45.
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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