Pinnacle Holdings LLC Buys 5,481 Shares of Genesis Energy, L.P. (NYSE:GEL)

Pinnacle Holdings LLC raised its stake in Genesis Energy, L.P. (NYSE:GEL) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,890 shares of the pipeline company’s stock after acquiring an additional 5,481 shares during the period. Pinnacle Holdings LLC’s holdings in Genesis Energy were worth $2,375,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GEL. JPMorgan Chase & Co. grew its stake in Genesis Energy by 9.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock worth $47,169,000 after buying an additional 418,555 shares in the last quarter. Tejara Capital Ltd bought a new position in Genesis Energy in the fourth quarter valued at approximately $3,205,000. Rangeley Capital LLC bought a new stake in Genesis Energy during the fourth quarter worth $2,133,000. Summit Financial LLC acquired a new position in shares of Genesis Energy during the 4th quarter worth $2,128,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Genesis Energy by 5,667.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 190,342 shares of the pipeline company’s stock valued at $1,972,000 after buying an additional 187,042 shares in the last quarter. 66.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GEL has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th. Wells Fargo & Company upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $15.00 to $18.00 in a research report on Monday, March 17th.

Genesis Energy Stock Down 1.7 %

Shares of NYSE GEL opened at $12.56 on Wednesday. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $16.44. The company’s 50 day moving average price is $13.03 and its 200-day moving average price is $12.09. The company has a market capitalization of $1.54 billion, a P/E ratio of -10.12 and a beta of 1.39. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). The business had revenue of $725.55 million during the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s dividend payout ratio is presently -53.23%.

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.