Evergreen Capital Management LLC Purchases 55,405 Shares of Genesis Energy, L.P. (GEL)

Evergreen Capital Management LLC raised its position in Genesis Energy, L.P. (NYSE:GEL) by 18.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 360,965 shares of the pipeline company’s stock after purchasing an additional 55,405 shares during the quarter. Genesis Energy comprises 1.1% of Evergreen Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. Evergreen Capital Management LLC owned 0.29% of Genesis Energy worth $9,511,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cutter & CO Brokerage Inc. lifted its holdings in Genesis Energy by 1.5% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 9,643 shares of the pipeline company’s stock worth $306,000 after buying an additional 146 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in Genesis Energy by 1.9% during the 2nd quarter. Hodges Capital Management Inc. now owns 10,500 shares of the pipeline company’s stock worth $333,000 after buying an additional 200 shares in the last quarter. M&T Bank Corp lifted its holdings in Genesis Energy by 0.7% during the 2nd quarter. M&T Bank Corp now owns 33,435 shares of the pipeline company’s stock worth $1,060,000 after buying an additional 245 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Genesis Energy by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after buying an additional 271 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Genesis Energy by 2.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,433 shares of the pipeline company’s stock worth $490,000 after buying an additional 351 shares in the last quarter. Institutional investors own 73.52% of the company’s stock.

Shares of Genesis Energy, L.P. (NYSE GEL) opened at $22.33 on Wednesday. Genesis Energy, L.P. has a 52 week low of $20.43 and a 52 week high of $37.88. The company has a market cap of $2,749.78, a price-to-earnings ratio of 24.39 and a beta of 1.15. The company has a quick ratio of 1.35, a current ratio of 1.62 and a debt-to-equity ratio of 1.80.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 8.96%. The ex-dividend date of this dividend was Monday, October 30th. Genesis Energy’s dividend payout ratio (DPR) is presently 281.69%.

In related news, Director Kenneth M. Jastrow II acquired 7,804 shares of Genesis Energy stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average price of $27.25 per share, for a total transaction of $212,659.00. Following the completion of the purchase, the director now directly owns 35,000 shares of the company’s stock, valued at $953,750. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard R. Alexander acquired 5,500 shares of Genesis Energy stock in a transaction that occurred on Monday, December 4th. The stock was bought at an average price of $22.66 per share, with a total value of $124,630.00. The disclosure for this purchase can be found here. Insiders bought a total of 250,579 shares of company stock valued at $5,537,772 in the last 90 days. Company insiders own 0.72% of the company’s stock.

A number of equities research analysts have issued reports on GEL shares. Robert W. Baird set a $29.00 target price on shares of Genesis Energy and gave the stock a “buy” rating in a report on Friday, November 17th. Zacks Investment Research raised shares of Genesis Energy from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Thursday, November 9th. UBS dropped their price objective on shares of Genesis Energy from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. Janney Montgomery Scott set a $30.00 price objective on shares of Genesis Energy and gave the company a “buy” rating in a research report on Friday, October 13th. Finally, Barclays raised shares of Genesis Energy from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $31.00 to $27.00 in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $33.45.

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About Genesis Energy

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 (NYSE:GEL)

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