First Trust Advisors LP increased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 9.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 301,928 shares of the pipeline company’s stock after purchasing an additional 26,480 shares during the period. First Trust Advisors LP owned 0.25% of Genesis Energy, L.P. worth $7,956,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Genesis Energy, L.P. by 3.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 259,963 shares of the pipeline company’s stock valued at $8,249,000 after acquiring an additional 7,572 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Genesis Energy, L.P. by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock valued at $124,000 after purchasing an additional 271 shares during the last quarter. CNH Partners LLC increased its position in shares of Genesis Energy, L.P. by 44.9% during the 2nd quarter. CNH Partners LLC now owns 18,725 shares of the pipeline company’s stock valued at $594,000 after purchasing an additional 5,800 shares during the last quarter. Green Square Capital LLC bought a new position in shares of Genesis Energy, L.P. during the 2nd quarter valued at about $260,000. Finally, Advisor Group Inc. increased its position in shares of Genesis Energy, L.P. by 9.4% during the 2nd quarter. Advisor Group Inc. now owns 5,453 shares of the pipeline company’s stock valued at $173,000 after purchasing an additional 470 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

In other Genesis Energy, L.P. news, Director Kenneth M. Jastrow II acquired 7,804 shares of the stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $27.25 per share, for a total transaction of $212,659.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $953,750. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth M. Jastrow II bought 27,196 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $26.74 per share, for a total transaction of $727,221.04. Following the completion of the transaction, the director now directly owns 9,397 shares of the company’s stock, valued at approximately $251,275.78. The disclosure for this purchase can be found here. Insiders bought 49,300 shares of company stock worth $1,270,755 over the last 90 days. Company insiders own 0.72% of the company’s stock.

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Several equities analysts have recently commented on GEL shares. Royal Bank Of Canada reiterated a “hold” rating and set a $34.00 price objective on shares of Genesis Energy, L.P. in a research report on Monday, August 21st. Zacks Investment Research upgraded Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Robert W. Baird upgraded Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $35.00 to $37.00 in a research report on Monday, August 7th. UBS AG dropped their price objective on Genesis Energy, L.P. from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Finally, Barclays PLC dropped their price objective on Genesis Energy, L.P. from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $33.45.

Shares of Genesis Energy, L.P. (GEL) opened at $22.76 on Monday. Genesis Energy, L.P. has a fifty-two week low of $22.71 and a fifty-two week high of $37.88. The company has a current ratio of 1.62, a quick ratio of 1.35 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $2,788.99, a PE ratio of 24.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.18.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.79%. The ex-dividend date is Monday, October 30th. Genesis Energy, L.P.’s dividend payout ratio is presently 281.69%.

Genesis Energy, L.P. Company Profile

Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.

Institutional Ownership by Quarter for Genesis Energy, L.P. (NYSE:GEL)

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