Genesis Energy, L.P. Target of Unusually Large Options Trading (GEL)
Genesis Energy, L.P. (NYSE:GEL) was the target of unusually large options trading activity on Wednesday. Traders purchased 547 put options on the stock. This is an increase of Infinity compared to the average daily volume of 0 put options.
Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Genesis Energy, L.P. from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. Robert W. Baird raised shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $35.00 to $37.00 in a report on Monday, August 7th. BidaskClub downgraded shares of Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $34.00 price objective on shares of Genesis Energy, L.P. in a report on Wednesday, September 27th. Finally, Janney Montgomery Scott set a $30.00 price objective on shares of Genesis Energy, L.P. and gave the stock a “buy” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $33.45.
In other news, insider Edward T. Flynn acquired 4,681 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average cost of $21.32 per share, with a total value of $99,798.92. Following the acquisition, the insider now owns 15,691 shares in the company, valued at $334,532.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Grant E. Sims acquired 44,263 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average cost of $22.93 per share, with a total value of $1,014,950.59. Following the completion of the acquisition, the chief executive officer now owns 2,971,694 shares in the company, valued at approximately $68,140,943.42. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 98,244 shares of company stock valued at $2,385,505. 0.72% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of GEL. Alps Advisors Inc. boosted its holdings in Genesis Energy, L.P. by 11.3% in the 3rd quarter. Alps Advisors Inc. now owns 8,713,795 shares of the pipeline company’s stock valued at $229,608,000 after purchasing an additional 881,434 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Genesis Energy, L.P. by 46.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,202,594 shares of the pipeline company’s stock valued at $57,642,000 after buying an additional 695,436 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of Genesis Energy, L.P. by 4.4% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,312,699 shares of the pipeline company’s stock valued at $327,222,000 after buying an additional 431,059 shares in the last quarter. Kayne Anderson Capital Advisors LP acquired a new position in shares of Genesis Energy, L.P. in the 3rd quarter valued at $9,404,000. Finally, Cannell Peter B & Co. Inc. raised its stake in shares of Genesis Energy, L.P. by 74.5% in the 2nd quarter. Cannell Peter B & Co. Inc. now owns 775,690 shares of the pipeline company’s stock valued at $24,613,000 after buying an additional 331,225 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.
Shares of Genesis Energy, L.P. (NYSE:GEL) opened at $21.69 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 1.80. Genesis Energy, L.P. has a 1-year low of $20.59 and a 1-year high of $37.88. The firm has a market cap of $2,610.00, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 9.22%. The ex-dividend date was Monday, October 30th. Genesis Energy, L.P.’s dividend payout ratio (DPR) is presently 285.71%.
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About Genesis Energy, L.P.
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.
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