TradeLink Capital LLC acquired a new stake in shares of Genesis Energy, L.P. (NYSE:GEL) during the second quarter, Holdings Channel reports. The firm acquired 7,900 shares of the pipeline company’s stock, valued at approximately $251,000. Genesis Energy, L.P. accounts for about 2.3% of TradeLink Capital LLC’s investment portfolio, making the stock its 15th largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cutter & CO Brokerage Inc. raised its stake in Genesis Energy, L.P. by 1.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 9,497 shares of the pipeline company’s stock valued at $308,000 after buying an additional 123 shares during the period. Hodges Capital Management Inc. raised its stake in Genesis Energy, L.P. by 1.9% in the second quarter. Hodges Capital Management Inc. now owns 10,500 shares of the pipeline company’s stock valued at $333,000 after buying an additional 200 shares during the period. Blair William & Co. IL raised its stake in Genesis Energy, L.P. by 0.3% in the first quarter. Blair William & Co. IL now owns 93,471 shares of the pipeline company’s stock valued at $3,163,000 after buying an additional 260 shares during the period. LVW Advisors LLC raised its stake in Genesis Energy, L.P. by 1.4% in the first quarter. LVW Advisors LLC now owns 21,491 shares of the pipeline company’s stock valued at $697,000 after buying an additional 300 shares during the period. Finally, Diversified Trust Co raised its stake in Genesis Energy, L.P. by 1.7% in the second quarter. Diversified Trust Co now owns 24,007 shares of the pipeline company’s stock valued at $762,000 after buying an additional 393 shares during the period. 73.99% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy, L.P. (NYSE:GEL) opened at 28.14 on Friday. Genesis Energy, L.P. has a 52-week low of $27.91 and a 52-week high of $38.36. The company has a market capitalization of $3.45 billion, a P/E ratio of 29.04 and a beta of 1.20. The firm has a 50-day moving average price of $30.45 and a 200 day moving average price of $32.16.

Genesis Energy, L.P. (NYSE:GEL) last posted its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Genesis Energy, L.P. had a return on equity of 5.32% and a net margin of 6.73%. The firm had revenue of $406.72 million during the quarter, compared to analysts’ expectations of $503.22 million. On average, analysts predict that Genesis Energy, L.P. will post $1.09 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a $0.723 dividend. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. This represents a $2.89 dividend on an annualized basis and a dividend yield of 10.28%. The ex-dividend date of this dividend is Thursday, July 27th. Genesis Energy, L.P.’s dividend payout ratio is presently 294.90%.

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Several analysts recently weighed in on the company. UBS AG reaffirmed a “buy” rating and issued a $41.00 price objective (down from $43.00) on shares of Genesis Energy, L.P. in a research note on Friday, May 5th. BidaskClub lowered Genesis Energy, L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday. Robert W. Baird reaffirmed a “neutral” rating and issued a $35.00 price objective (down from $37.00) on shares of Genesis Energy, L.P. in a research note on Thursday, July 13th. Credit Suisse Group raised Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $40.00 to $39.00 in a research note on Monday, May 8th. Finally, Zacks Investment Research raised Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $37.55.

In other news, CFO Robert V. Deere acquired 34,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was purchased at an average cost of $30.34 per share, for a total transaction of $1,031,560.00. Following the acquisition, the chief financial officer now owns 783,935 shares of the company’s stock, valued at $23,784,587.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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.

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

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