Susquehanna Portfolio Strategies LLC Lowers Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

Susquehanna Portfolio Strategies LLC lessened its holdings in shares of Genesis Energy, L.P. (NYSE:GEL) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,333 shares of the pipeline company’s stock after selling 9,117 shares during the quarter. Susquehanna Portfolio Strategies LLC owned approximately 0.07% of Genesis Energy worth $1,192,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GEL. Mirae Asset Global Investments Co. Ltd. boosted its stake in Genesis Energy by 14.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock worth $67,126,000 after buying an additional 760,739 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in Genesis Energy by 6.5% in the second quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock valued at $61,411,000 after purchasing an additional 262,784 shares during the period. Westwood Holdings Group Inc. raised its stake in Genesis Energy by 1.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 4,188,175 shares of the pipeline company’s stock worth $48,499,000 after purchasing an additional 59,458 shares during the period. Goldman Sachs Group Inc. raised its stake in Genesis Energy by 9.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company’s stock worth $24,743,000 after purchasing an additional 189,610 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Genesis Energy by 24.5% in the 4th quarter. Wells Fargo & Company MN now owns 988,690 shares of the pipeline company’s stock valued at $11,449,000 after purchasing an additional 194,258 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Insider Activity

In other news, VP Garland G. Gaspard bought 2,261 shares of Genesis Energy stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $13.27 per share, with a total value of $30,003.47. Following the completion of the transaction, the vice president now owns 19,525 shares in the company, valued at approximately $259,096.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.

Genesis Energy Stock Down 0.2 %

Shares of NYSE:GEL opened at $13.08 on Friday. The stock has a 50-day simple moving average of $13.41 and a 200-day simple moving average of $12.94. The stock has a market capitalization of $1.60 billion, a P/E ratio of 38.47 and a beta of 2.10. Genesis Energy, L.P. has a 1 year low of $9.77 and a 1 year high of $15.17. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.22). The business had revenue of $756.26 million for the quarter. Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. During the same period in the prior year, the company posted $0.22 EPS.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Wednesday, July 31st. Genesis Energy’s dividend payout ratio is presently 176.47%.

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.