Genesis Energy, L.P. (NYSE:GEL) Shares Acquired by Infrastructure Capital Advisors LLC

Posted by Defense World Staff on Sep 9th, 2023

Infrastructure Capital Advisors LLC increased its stake in shares of Genesis Energy, L.P. (NYSE:GEL – Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,725 shares of the pipeline company’s stock after purchasing an additional 62,711 shares during the quarter. Genesis Energy makes up approximately 0.7% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 19th largest holding. Infrastructure Capital Advisors LLC owned 0.46% of Genesis Energy worth $6,393,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SNC grew its holdings in shares of Genesis Energy by 1.4% during the third quarter. BNP Paribas Arbitrage SNC now owns 83,182 shares of the pipeline company’s stock worth $765,000 after buying an additional 1,128 shares in the last quarter. Captrust Financial Advisors grew its stake in Genesis Energy by 90.8% in the 2nd quarter. Captrust Financial Advisors now owns 5,034 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 2,395 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Genesis Energy by 2.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 98,734 shares of the pipeline company’s stock valued at $1,008,000 after acquiring an additional 2,535 shares during the last quarter. Pinnacle Holdings LLC lifted its stake in shares of Genesis Energy by 1.6% during the 1st quarter. Pinnacle Holdings LLC now owns 162,085 shares of the pipeline company’s stock worth $1,825,000 after purchasing an additional 2,550 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Genesis Energy during the fourth quarter worth $29,000. Institutional investors and hedge funds own 65.76% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jeffrey J. Rasmussen bought 5,000 shares of Genesis Energy stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of $9.37 per share, with a total value of $46,850.00. Following the completion of the transaction, the vice president now owns 23,500 shares in the company, valued at approximately $220,195. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Genesis Energy news, VP Jeffrey J. Rasmussen purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of $9.37 per share, for a total transaction of $46,850.00. Following the completion of the purchase, the vice president now owns 23,500 shares in the company, valued at approximately $220,195. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Edward T. Flynn acquired 10,000 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $9.69 per share, with a total value of $96,900.00. Following the purchase, the insider now owns 130,000 shares in the company, valued at $1,259,700. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

Genesis Energy Price Performance

GEL opened at $10.59 on Friday. Genesis Energy, L.P. has a 52-week low of $8.05 and a 52-week high of $12.37. The company has a 50 day moving average of $9.65 and a two-hundred day moving average of $10.30. The company has a market cap of $1.30 billion, a P/E ratio of 264.75 and a beta of 2.14. The company has a quick ratio of 0.99, a current ratio of 1.13 and a debt-to-equity ratio of 4.06.

Genesis Energy (NYSE:GEL – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.05). The company had revenue of $804.70 million during the quarter. Genesis Energy had a net margin of 3.07% and a return on equity of 10.73%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend was Friday, July 28th. Genesis Energy’s dividend payout ratio (DPR) is presently 1,500.00%.

Analyst Ratings Changes

Several research firms recently weighed in on GEL. StockNews.com initiated coverage on Genesis Energy in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada decreased their target price on shares of Genesis Energy from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th.

View Our Latest Stock Report on Genesis Energy

Genesis Energy Company Profile

(Free Report)

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deepwater pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.