Raymond James Financial Services Advisors Inc. Reduces Stake in Genesis Energy, L.P. (NYSE:GEL)

Raymond James Financial Services Advisors Inc. decreased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 151,567 shares of the pipeline company’s stock after selling 2,092 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.12% of Genesis Energy worth $1,755,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming purchased a new stake in Genesis Energy during the 2nd quarter worth about $27,000. Captrust Financial Advisors raised its holdings in shares of Genesis Energy by 90.8% in the 2nd quarter. Captrust Financial Advisors now owns 5,034 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 2,395 shares in the last quarter. Indiana Trust & Investment Management CO purchased a new stake in shares of Genesis Energy in the 3rd quarter valued at about $46,000. Tower Research Capital LLC TRC purchased a new stake in shares of Genesis Energy in the 3rd quarter valued at about $46,000. Finally, Tejara Capital Ltd purchased a new stake in shares of Genesis Energy in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

Shares of NYSE GEL opened at $11.99 on Friday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 54.50 and a beta of 2.04. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 4.18. Genesis Energy, L.P. has a 1-year low of $8.05 and a 1-year high of $12.78. The stock’s 50-day moving average is $11.26 and its 200 day moving average is $11.42.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.31). Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. The company had revenue of $774.10 million for the quarter. During the same quarter last year, the firm posted $0.15 EPS. Genesis Energy’s revenue was up 8.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Genesis Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th.

Genesis Energy Company Profile

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.