Genesis Energy, L.P. (NYSE:GEL) Insider Buys $11,250.00 in Stock

Genesis Energy, L.P. (NYSE:GEL) insider Ryan S. Sims acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $11,250.00. Following the purchase, the insider now owns 22,500 shares of the company’s stock, valued at $253,125. This represents a 4.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Genesis Energy Stock Up 3.1 %

Shares of NYSE GEL opened at $11.52 on Friday. Genesis Energy, L.P. has a 12-month low of $10.01 and a 12-month high of $15.17. The stock’s fifty day simple moving average is $12.75 and its two-hundred day simple moving average is $13.20. The stock has a market capitalization of $1.41 billion, a PE ratio of -15.57 and a beta of 2.12. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data 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). The company had revenue of $714.30 million for the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same quarter in the prior year, the firm posted $0.29 earnings per share.

Genesis Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.165 dividend. 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 5.73%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s payout ratio is presently -89.19%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Genesis Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of GEL. Paragon Associates & Paragon Associates II Joint Venture purchased a new position in shares of Genesis Energy during the 1st quarter valued at about $111,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Genesis Energy during the third quarter worth about $139,000. Van ECK Associates Corp raised its position in Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 3,073 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Genesis Energy by 4.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock valued at $372,000 after acquiring an additional 1,550 shares during the period. Finally, Axiom Advisory LLC boosted 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 in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

About Genesis Energy

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.