LPL Financial LLC decreased its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,718 shares of the pipeline company’s stock after selling 3,375 shares during the quarter. LPL Financial LLC’s holdings in Genesis Energy were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. GWM Advisors LLC increased its stake in Genesis Energy by 18.9% in the fourth quarter. GWM Advisors LLC now owns 11,700 shares of the pipeline company’s stock valued at $216,000 after purchasing an additional 1,856 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Genesis Energy by 2.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 284,426 shares of the pipeline company’s stock valued at $5,253,000 after purchasing an additional 8,000 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Genesis Energy by 14.7% in the third quarter. First Republic Investment Management Inc. now owns 96,523 shares of the pipeline company’s stock valued at $2,295,000 after purchasing an additional 12,348 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Genesis Energy by 1.7% in the third quarter. Neuberger Berman Group LLC now owns 822,630 shares of the pipeline company’s stock valued at $19,562,000 after purchasing an additional 13,600 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Genesis Energy in the third quarter valued at approximately $419,000. 75.37% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research downgraded Genesis Energy from a “hold” rating to a “strong sell” rating in a report on Friday, January 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $27.75.
Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Wednesday, February 20th. The pipeline company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. The business had revenue of $689.30 million during the quarter, compared to analysts’ expectations of $737.40 million. Genesis Energy had a positive return on equity of 5.16% and a negative net margin of 0.21%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, sell-side analysts anticipate that Genesis Energy, L.P. will post 0.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 9.65%. The ex-dividend date of this dividend is Tuesday, April 30th. Genesis Energy’s dividend payout ratio is presently -2,750.00%.
Genesis Energy Company Profile
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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