Genesis Energy, L.P. (NYSE:GEL) CEO Grant E. Sims purchased 44,263 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $22.93 per share, with a total value 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 approximately $68,140,943.42. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Genesis Energy, L.P. (GEL) traded down $0.22 during mid-day trading on Monday, hitting $22.76. 307,300 shares of the company’s stock were exchanged, compared to its average volume of 517,139. Genesis Energy, L.P. has a one year low of $22.71 and a one year high of $37.88. The company has a market cap of $2,770.00, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.62 and a quick ratio of 1.35.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, October 30th. This represents a $2.00 annualized dividend and a dividend yield of 8.79%. Genesis Energy, L.P.’s dividend payout ratio is currently 285.71%.

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Several institutional investors have recently added to or reduced their stakes in GEL. Alliancebernstein L.P. increased its position in shares of Genesis Energy, L.P. by 40.6% in the first quarter. Alliancebernstein L.P. now owns 24,537 shares of the pipeline company’s stock worth $795,000 after acquiring an additional 7,085 shares in the last quarter. Bank of Montreal Can grew its position 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 valued at $158,000 after purchasing an additional 570 shares in the last quarter. Spirit of America Management Corp NY grew its position in Genesis Energy, L.P. by 1.5% during the second quarter. Spirit of America Management Corp NY now owns 366,942 shares of the pipeline company’s stock valued at $11,643,000 after purchasing an additional 5,600 shares in the last quarter. Diversified Trust Co grew its position in Genesis Energy, L.P. by 1.7% during the second quarter. Diversified Trust Co now owns 24,007 shares of the pipeline company’s stock valued at $762,000 after purchasing an additional 393 shares in the last quarter. Finally, Private Capital Management Inc. grew its position in Genesis Energy, L.P. by 82.4% during the second quarter. Private Capital Management Inc. now owns 15,500 shares of the pipeline company’s stock valued at $492,000 after purchasing an additional 7,000 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

GEL has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Genesis Energy, L.P. from a “buy” rating to a “hold” rating in a research report on Friday. Barclays PLC cut their price objective on shares of Genesis Energy, L.P. from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Monday, November 6th. UBS AG cut 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 research 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 research report on Friday, October 13th. Finally, 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 research report on Friday, October 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Genesis Energy, L.P. has an average rating of “Hold” and a consensus price target of $33.45.

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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