Genesis Energy, L.P. (NYSE:GEL) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in shares of Genesis Energy, L.P. (NYSE:GEL – Get Rating) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 180,515 shares of the pipeline company’s stock after selling 3,966 shares during the period. HighTower Advisors LLC’s holdings in Genesis Energy were worth $1,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GEL. Mariner LLC grew its holdings in Genesis Energy by 22.8% in the first quarter. Mariner LLC now owns 42,385 shares of the pipeline company’s stock valued at $496,000 after purchasing an additional 7,868 shares during the period. UBS Group AG grew its stake in Genesis Energy by 19.6% in the 1st quarter. UBS Group AG now owns 1,431,719 shares of the pipeline company’s stock valued at $16,766,000 after acquiring an additional 234,305 shares during the period. Vident Investment Advisory LLC increased its holdings in Genesis Energy by 7.6% in the 1st quarter. Vident Investment Advisory LLC now owns 94,658 shares of the pipeline company’s stock worth $1,108,000 after acquiring an additional 6,657 shares in the last quarter. Advisors Asset Management Inc. raised its position in Genesis Energy by 4.3% during the first quarter. Advisors Asset Management Inc. now owns 190,748 shares of the pipeline company’s stock worth $2,234,000 after acquiring an additional 7,806 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in Genesis Energy by 8,647.8% during the second quarter. BNP Paribas Arbitrage SA now owns 82,054 shares of the pipeline company’s stock valued at $658,000 after purchasing an additional 81,116 shares in the last quarter. Hedge funds and other institutional investors own 70.04% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Genesis Energy from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, March 2nd. StockNews.com began coverage on Genesis Energy in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada dropped their price target on Genesis Energy from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, April 21st.

Genesis Energy Stock Performance

GEL opened at $10.32 on Thursday. The firm has a market capitalization of $1.27 billion, a PE ratio of -258.00 and a beta of 2.19. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 4.16. Genesis Energy, L.P. has a twelve month low of $7.61 and a twelve month high of $12.95. The firm’s 50-day moving average price is $10.76 and its 200 day moving average price is $10.77.

Genesis Energy (NYSE:GEL – Get Rating) last issued its earnings results on Thursday, May 4th. The pipeline company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.34). The company had revenue of $790.60 million for the quarter. Genesis Energy had a return on equity of 9.06% and a net margin of 2.68%. Genesis Energy’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) EPS.

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 28th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, April 27th. This represents a $0.60 annualized dividend and a dividend yield of 5.81%. Genesis Energy’s payout ratio is -1,500.00%.

Genesis Energy Company Profile

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Genesis Energy LP engages in the provision of midstream services and produces natural soda ash. It operates through the following segments: Offshore Pipeline Transportation, Sodium Minerals and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. The Offshore Pipeline Transportation segment owns interests in crude oil and natural gas pipeline transportation and handling operations through its offshore pipeline transportation segment.