Manning & Napier Advisors LLC Buys Shares of 484,963 Genesis Energy, L.P. $GEL

Manning & Napier Advisors LLC bought a new position in shares of Genesis Energy, L.P. (NYSE:GEL) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 484,963 shares of the pipeline company’s stock, valued at approximately $6,872,000. Manning & Napier Advisors LLC owned approximately 0.40% of Genesis Energy as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Genesis Energy by 29.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock valued at $107,285,000 after purchasing an additional 1,465,339 shares in the last quarter. Morgan Stanley boosted its holdings in Genesis Energy by 39.9% during the fourth quarter. Morgan Stanley now owns 4,054,770 shares of the pipeline company’s stock worth $63,254,000 after buying an additional 1,156,884 shares in the last quarter. Alps Advisors Inc. grew its position in Genesis Energy by 3.7% during the fourth quarter. Alps Advisors Inc. now owns 24,909,448 shares of the pipeline company’s stock worth $388,587,000 after buying an additional 890,193 shares during the period. Goldman Sachs Group Inc. grew its position in Genesis Energy by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock worth $63,934,000 after buying an additional 478,530 shares during the period. Finally, UBS Group AG increased its holdings in Genesis Energy by 31.3% in the fourth quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock valued at $28,301,000 after buying an additional 432,771 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GEL shares. Weiss Ratings upgraded shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Wells Fargo & Company lowered their price target on Genesis Energy from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada dropped their price objective on Genesis Energy from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Genesis Energy Price Performance

Genesis Energy stock opened at $16.12 on Tuesday. The firm has a market capitalization of $1.97 billion, a PE ratio of 84.85 and a beta of 0.63. Genesis Energy, L.P. has a 52 week low of $13.75 and a 52 week high of $18.64. The firm’s 50-day simple moving average is $14.92 and its 200 day simple moving average is $16.27. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 24.31.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, August 6th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.24. Genesis Energy had a net margin of 4.29% and a return on equity of 55.96%. The company had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $532.00 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share.

Genesis Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.20 per share. The ex-dividend date was Friday, July 31st. This represents a $0.80 annualized dividend and a dividend yield of 5.0%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.18. Genesis Energy’s payout ratio is presently 421.05%.

Genesis Energy Company Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.