Exchange Traded Concepts LLC lessened its stake in Genesis Energy, L.P. (NYSE:GEL – Free Report) by 7.1% in the fourth quarter, HoldingsChannel reports. The firm owned 123,447 shares of the pipeline company’s stock after selling 9,457 shares during the period. Exchange Traded Concepts LLC’s holdings in Genesis Energy were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of Genesis Energy in the 2nd quarter worth $43,591,000. Axiom Advisory LLC boosted its position in Genesis Energy by 2.8% in the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 794 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Genesis Energy during the 3rd quarter valued at about $139,000. ING Groep NV increased its position in shares of Genesis Energy by 15.1% during the 3rd quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock valued at $10,197,000 after purchasing an additional 100,000 shares during the last quarter. Finally, BBR Partners LLC purchased a new stake in shares of Genesis Energy during the 3rd quarter valued at about $648,000. 66.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on GEL. Royal Bank of Canada boosted their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.
Genesis Energy Stock Down 1.9 %
GEL stock opened at $10.38 on Tuesday. The business’s 50-day moving average price is $10.76 and its 200-day moving average price is $12.31. The stock has a market cap of $1.27 billion, a P/E ratio of -14.03 and a beta of 2.14. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $15.17. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13.
Genesis Energy (NYSE:GEL – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The firm had revenue of $714.30 million during the quarter. Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. During the same period in the prior year, the firm posted $0.29 EPS.
Genesis Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.165 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 6.36%. Genesis Energy’s payout ratio is -89.19%.
About Genesis Energy
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.
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