Jump Financial LLC Decreases Position in Genesis Energy, L.P. (NYSE:GEL)

Jump Financial LLC trimmed its stake in shares of Genesis Energy, L.P. (NYSE:GELFree Report) by 27.7% during the third quarter, Holdings Channel reports. The firm owned 56,900 shares of the pipeline company’s stock after selling 21,800 shares during the period. Jump Financial LLC’s holdings in Genesis Energy were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in GEL. Mirae Asset Global Investments Co. Ltd. lifted its stake in Genesis Energy by 7.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,459,602 shares of the pipeline company’s stock valued at $61,689,000 after buying an additional 453,990 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Genesis Energy by 1.7% in the second quarter. JPMorgan Chase & Co. now owns 5,195,127 shares of the pipeline company’s stock valued at $49,613,000 after purchasing an additional 85,328 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Genesis Energy by 68.7% during the second quarter. Westwood Holdings Group Inc. now owns 3,771,324 shares of the pipeline company’s stock worth $36,016,000 after buying an additional 1,535,322 shares during the period. Chickasaw Capital Management LLC grew its holdings in Genesis Energy by 0.7% in the 3rd quarter. Chickasaw Capital Management LLC now owns 3,572,898 shares of the pipeline company’s stock worth $36,872,000 after buying an additional 23,623 shares in the last quarter. Finally, Morgan Stanley increased its position in Genesis Energy by 35.7% in the 4th quarter. Morgan Stanley now owns 3,346,220 shares of the pipeline company’s stock valued at $34,165,000 after acquiring an additional 879,674 shares during the period. Institutional investors own 65.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com lowered Genesis Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Royal Bank of Canada upped their price target on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 7th.

Read Our Latest Research Report on GEL

Insider Activity

In other news, VP Garland G. Gaspard bought 5,264 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $11.41 per share, with a total value of $60,062.24. Following the completion of the transaction, the vice president now directly owns 17,264 shares in the company, valued at approximately $196,982.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

Genesis Energy Stock Up 0.9 %

NYSE GEL opened at $11.18 on Friday. The company has a market capitalization of $1.37 billion, a P/E ratio of 24.84 and a beta of 2.08. Genesis Energy, L.P. has a 12 month low of $8.05 and a 12 month high of $12.78. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.07 and a quick ratio of 0.94. The company’s 50 day simple moving average is $11.87 and its 200 day simple moving average is $10.98.

Genesis Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Tuesday, January 30th. Genesis Energy’s dividend payout ratio (DPR) is presently 133.33%.

About Genesis Energy

(Free Report)

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 deepwater pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

See Also

Want to see what other hedge funds are holding GEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genesis Energy, L.P. (NYSE:GELFree Report).

Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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