484,963 Shares in Genesis Energy, L.P. $GEL Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC bought a new stake in Genesis Energy, L.P. (NYSE:GEL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 484,963 shares of the pipeline company’s stock, valued at approximately $6,872,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its holdings in shares of Genesis Energy by 3.7% during the fourth quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company’s stock worth $388,587,000 after buying an additional 890,193 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Genesis Energy by 0.3% during the fourth quarter. Invesco Ltd. now owns 18,852,533 shares of the pipeline company’s stock valued at $294,100,000 after buying an additional 48,406 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Genesis Energy by 29.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock worth $107,285,000 after acquiring an additional 1,465,339 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Genesis Energy by 2.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,192,745 shares of the pipeline company’s stock worth $81,007,000 after acquiring an additional 135,434 shares during the last quarter. Finally, Morgan Stanley grew its stake in Genesis Energy by 39.9% in the 4th quarter. Morgan Stanley now owns 4,054,770 shares of the pipeline company’s stock worth $63,254,000 after acquiring an additional 1,156,884 shares during the period. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Stock Down 0.5%

Shares of NYSE GEL opened at $16.12 on Tuesday. The stock has a market capitalization of $1.97 billion, a PE ratio of 84.85 and a beta of 0.63. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 24.31. The firm has a fifty day moving average of $14.92 and a 200-day moving average of $16.27. Genesis Energy, L.P. has a 52-week low of $13.75 and a 52-week high of $18.64.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, August 6th. The pipeline company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.24. Genesis Energy had a return on equity of 55.96% and a net margin of 4.29%.The firm had revenue of $532.00 million for the quarter, compared to analysts’ expectations of $532.00 million. During the same quarter last year, the firm earned ($0.12) earnings per share.

Genesis Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.80 annualized dividend and a dividend yield of 5.0%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.18. Genesis Energy’s dividend payout ratio is presently 421.05%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Weiss Ratings raised Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada dropped their target price on Genesis Energy from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Genesis Energy has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Genesis Energy Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.