Exchange Traded Concepts LLC Sells 855 Shares of Genesis Energy, L.P. (NYSE:GEL)

Exchange Traded Concepts LLC trimmed its position in Genesis Energy, L.P. (NYSE:GEL) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,592 shares of the pipeline company’s stock after selling 855 shares during the quarter. Exchange Traded Concepts LLC owned 0.10% of Genesis Energy worth $1,923,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. ING Groep NV increased its stake in shares of Genesis Energy by 12.1% in the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock worth $8,644,000 after buying an additional 92,300 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Genesis Energy by 9.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock worth $47,169,000 after buying an additional 418,555 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Genesis Energy in the fourth quarter worth $404,000. Concurrent Investment Advisors LLC purchased a new position in shares of Genesis Energy in the fourth quarter worth $920,000. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of Genesis Energy by 411.6% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 110,658 shares of the pipeline company’s stock worth $1,736,000 after buying an additional 89,029 shares during the period. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GEL. Royal Bank Of Canada lifted their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th. Wall Street Zen downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Monday, March 17th.

Genesis Energy Stock Down 0.7%

Shares of Genesis Energy stock opened at $16.52 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.42 and a debt-to-equity ratio of 18.33. The company’s fifty day simple moving average is $15.00 and its two-hundred day simple moving average is $12.97. The company has a market cap of $2.02 billion, a P/E ratio of -3.17 and a beta of 1.03. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $16.96.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.37). The company had revenue of $398.31 million for the quarter. Genesis Energy had a negative net margin of 20.98% and a negative return on equity of 19.28%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) earnings per share.

Genesis Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Wednesday, April 30th. Genesis Energy’s dividend payout ratio is presently -12.67%.

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.