Insider Buying: Genesis Energy, L.P. (NYSE:GEL) Insider Buys 1,000 Shares of Stock

Genesis Energy, L.P. (NYSE:GEL) insider Ryan S. Sims purchased 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $12.95 per share, with a total value of $12,950.00. Following the acquisition, the insider now owns 23,500 shares of the company’s stock, valued at $304,325. This represents a 4.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Genesis Energy Trading Up 2.2 %

GEL traded up $0.28 during trading on Friday, reaching $13.29. 205,021 shares of the company’s stock were exchanged, compared to its average volume of 439,070. The company’s fifty day moving average price is $11.41 and its 200-day moving average price is $11.90. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $15.17. The firm has a market capitalization of $1.63 billion, a PE ratio of -10.73 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The business had revenue of $725.55 million for the quarter.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date was Friday, January 31st. Genesis Energy’s dividend payout ratio is presently -53.23%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price target on shares of Genesis Energy from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, March 5th.

Hedge Funds Weigh In On Genesis Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors boosted its position in shares of Genesis Energy by 2.9% during the third quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after purchasing an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Genesis Energy by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock worth $369,000 after purchasing an additional 1,584 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 1,819 shares in the last quarter. Mariner LLC boosted its position in shares of Genesis Energy by 7.0% during the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock worth $359,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Genesis Energy by 6.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock worth $488,000 after purchasing an additional 2,717 shares in the last quarter. 66.82% of the stock is owned by institutional investors.

About Genesis Energy

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.