Advisors Asset Management Inc. boosted its position in shares of Genesis Energy, L.P. (NYSE:GEL – Free Report) by 19.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 208,150 shares of the pipeline company’s stock after buying an additional 34,614 shares during the quarter. Advisors Asset Management Inc. owned 0.17% of Genesis Energy worth $2,315,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Genesis Energy by 14.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock valued at $67,126,000 after buying an additional 760,739 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Genesis Energy by 1.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,188,175 shares of the pipeline company’s stock valued at $48,499,000 after buying an additional 59,458 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in Genesis Energy by 4.6% during the first quarter. Chickasaw Capital Management LLC now owns 4,028,715 shares of the pipeline company’s stock valued at $44,799,000 after buying an additional 175,981 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Genesis Energy by 9.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company’s stock valued at $24,743,000 after buying an additional 189,610 shares in the last quarter. Finally, UBS Group AG boosted its stake in Genesis Energy by 479.1% during the fourth quarter. UBS Group AG now owns 1,417,274 shares of the pipeline company’s stock valued at $16,412,000 after buying an additional 1,172,536 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.
Genesis Energy Trading Up 2.1 %
Shares of NYSE GEL traded up $0.30 during mid-day trading on Friday, hitting $14.26. 190,030 shares of the company traded hands, compared to its average volume of 226,900. Genesis Energy, L.P. has a 1 year low of $8.05 and a 1 year high of $15.17. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 41.94 and a beta of 2.11. The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 4.39. The business has a 50 day moving average of $13.62 and a two-hundred day moving average of $12.38.
Genesis Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Wednesday, July 31st. Genesis Energy’s dividend payout ratio is 176.48%.
Genesis Energy Company 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.
Further Reading
- Five stocks we like better than Genesis Energy
- Consumer Staples Stocks, Explained
- Why Call Options Volume for These 2 Stocks Spiked Together
- ETF Screener: Uses and Step-by-Step Guide
- MarketBeat Week in Review – 7/22 – 7/26
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
Want to see what other hedge funds are holding GEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genesis Energy, L.P. (NYSE:GEL – Free Report).
Receive News & Ratings for Genesis Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesis Energy and related companies with MarketBeat.com's FREE daily email newsletter.