First Trust Advisors LP decreased its position in Genesis Energy, L.P. (NYSE:GEL) by 15.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 275,448 shares of the pipeline company’s stock after selling 51,565 shares during the period. First Trust Advisors LP owned 0.22% of Genesis Energy, L.P. worth $8,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. OppenheimerFunds Inc. boosted its position in shares of Genesis Energy, L.P. by 38.3% in the first quarter. OppenheimerFunds Inc. now owns 14,212,229 shares of the pipeline company’s stock worth $460,760,000 after buying an additional 3,932,520 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in shares of Genesis Energy, L.P. by 4.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock worth $327,222,000 after buying an additional 431,059 shares during the period. Chickasaw Capital Management LLC boosted its position in shares of Genesis Energy, L.P. by 3.8% in the second quarter. Chickasaw Capital Management LLC now owns 8,250,616 shares of the pipeline company’s stock worth $261,792,000 after buying an additional 301,090 shares during the period. Clearbridge Investments LLC boosted its position in shares of Genesis Energy, L.P. by 2.7% in the first quarter. Clearbridge Investments LLC now owns 9,054,077 shares of the pipeline company’s stock worth $293,533,000 after buying an additional 238,610 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Genesis Energy, L.P. by 18.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,428,656 shares of the pipeline company’s stock worth $46,317,000 after buying an additional 224,875 shares during the period. 74.59% of the stock is owned by institutional investors and hedge funds.

Shares of Genesis Energy, L.P. (NYSE GEL) opened at 26.89 on Friday. The stock has a market capitalization of $3.30 billion, a PE ratio of 27.75 and a beta of 1.20. The firm has a 50-day moving average of $29.24 and a 200 day moving average of $31.41. Genesis Energy, L.P. has a 1-year low of $25.71 and a 1-year high of $38.36.

Genesis Energy, L.P. (NYSE:GEL) last released its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05. Genesis Energy, L.P. had a net margin of 6.73% and a return on equity of 5.32%. The business had revenue of $406.72 million for the quarter, compared to analyst estimates of $503.22 million. On average, equities analysts anticipate that Genesis Energy, L.P. will post $1.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a dividend of $0.723 per share. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $2.89 annualized dividend and a yield of 10.75%. Genesis Energy, L.P.’s dividend payout ratio (DPR) is presently 294.90%.

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GEL has been the subject of a number of recent research reports. Credit Suisse Group raised shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $40.00 to $39.00 in a research note on Monday, May 8th. Zacks Investment Research raised shares of Genesis Energy, L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Barclays PLC cut shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $33.00 to $31.00 in a research note on Tuesday, July 18th. BidaskClub raised shares of Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, Robert W. Baird raised shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $35.00 to $37.00 in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $37.18.

In other news, CFO Robert V. Deere acquired 34,000 shares of Genesis Energy, L.P. stock in a transaction that occurred on Tuesday, June 13th. The shares were acquired at an average price of $30.34 per share, with a total value of $1,031,560.00. Following the purchase, the chief financial officer now directly owns 783,935 shares of the company’s stock, valued at $23,784,587.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

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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