Infrastructure Capital Advisors LLC Buys 7,604 Shares of Genesis Energy, L.P. (NYSE:GEL)

Infrastructure Capital Advisors LLC boosted its stake in Genesis Energy, L.P. (NYSE:GEL) by 1.0% in the third quarter, HoldingsChannel reports. The firm owned 780,212 shares of the pipeline company’s stock after acquiring an additional 7,604 shares during the period. Genesis Energy makes up approximately 1.4% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 18th largest holding. Infrastructure Capital Advisors LLC’s holdings in Genesis Energy were worth $10,431,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GEL. Wealth Enhancement Advisory Services LLC bought a new stake in Genesis Energy in the 3rd quarter worth approximately $139,000. Van ECK Associates Corp grew its position in Genesis Energy by 17.4% in the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 3,073 shares during the period. Axiom Advisory LLC grew its position in Genesis Energy by 2.8% in the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 794 shares during the period. XTX Topco Ltd grew its position in shares of Genesis Energy by 40.9% during the 2nd quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock valued at $443,000 after acquiring an additional 8,984 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Genesis Energy by 2.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after acquiring an additional 887 shares during the period. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

Shares of GEL stock opened at $11.80 on Friday. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. Genesis Energy, L.P. has a 1 year low of $10.01 and a 1 year high of $15.17. The firm has a fifty day moving average price of $12.52 and a 200-day moving average price of $13.14.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. The firm had revenue of $714.30 million for the quarter. During the same quarter last year, the business posted $0.29 EPS.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.165 per share. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.59%. Genesis Energy’s payout ratio is -89.19%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GEL shares. Royal Bank of Canada boosted their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Finally, Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.

Genesis Energy Profile

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.