Grant E. Sims Purchases 44,263 Shares of Genesis Energy, L.P. (GEL) Stock

Genesis Energy, L.P. (NYSE:GEL) CEO Grant E. Sims purchased 44,263 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was bought at an average price of $22.93 per share, for a total transaction of $1,014,950.59. Following the completion of the acquisition, the chief executive officer now owns 2,971,694 shares of the company’s stock, valued at approximately $68,140,943.42. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Genesis Energy, L.P. (GEL) opened at $21.39 on Wednesday. The stock has a market cap of $2,719.15, a PE ratio of 24.12, a price-to-earnings-growth ratio of 2.86 and a beta of 1.18. Genesis Energy, L.P. has a 1-year low of $21.30 and a 1-year 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 company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 9.35%. The ex-dividend date was Monday, October 30th. Genesis Energy, L.P.’s payout ratio is 281.69%.

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A number of research analysts have recently commented on GEL shares. UBS AG cut their price target on shares of Genesis Energy, L.P. from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. Robert W. Baird set a $29.00 price target on shares of Genesis Energy, L.P. and gave the stock a “buy” rating in a report on Friday, October 13th. Janney Montgomery Scott set a $30.00 price target on shares of Genesis Energy, L.P. and gave the stock a “buy” rating in a report on Friday, October 13th. Zacks Investment Research upgraded shares of Genesis Energy, L.P. from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, November 9th. Finally, Barclays PLC upgraded shares of Genesis Energy, L.P. from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $31.00 to $27.00 in a report on Friday, October 13th. One investment 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’s stock. Genesis Energy, L.P. currently has a consensus rating of “Hold” and an average price target of $33.45.

Several hedge funds have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. lifted its position in shares of Genesis Energy, L.P. by 4.4% during the second 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 during the last quarter. Alps Advisors Inc. lifted its position in shares of Genesis Energy, L.P. by 11.3% during the third quarter. Alps Advisors Inc. now owns 8,713,795 shares of the pipeline company’s stock valued at $229,608,000 after buying an additional 881,434 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Genesis Energy, L.P. by 3.8% during the second quarter. Chickasaw Capital Management LLC now owns 8,250,616 shares of the pipeline company’s stock valued at $261,792,000 after buying an additional 301,090 shares during the last quarter. RR Advisors LLC lifted its position in shares of Genesis Energy, L.P. by 3.6% during the third quarter. RR Advisors LLC now owns 2,401,000 shares of the pipeline company’s stock valued at $63,243,000 after buying an additional 84,000 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Genesis Energy, L.P. by 46.1% during the third 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 during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

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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