JPMorgan Chase & Co. decreased its holdings in Genesis Energy, L.P. (NYSE:GEL – Get Rating) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,332,134 shares of the pipeline company’s stock after selling 457,028 shares during the quarter. JPMorgan Chase & Co. owned 4.35% of Genesis Energy worth $54,441,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of GEL. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Genesis Energy by 12.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,307,420 shares of the pipeline company’s stock valued at $64,399,000 after purchasing an additional 690,432 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Genesis Energy by 24.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,065,155 shares of the pipeline company’s stock worth $16,563,000 after purchasing an additional 407,137 shares during the last quarter. UBS Group AG boosted its holdings in Genesis Energy by 5.3% in the third quarter. UBS Group AG now owns 1,523,110 shares of the pipeline company’s stock worth $14,013,000 after purchasing an additional 76,743 shares during the last quarter. ING Groep NV boosted its holdings in Genesis Energy by 152.4% in the fourth quarter. ING Groep NV now owns 689,000 shares of the pipeline company’s stock worth $7,035,000 after purchasing an additional 416,000 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in Genesis Energy in the third quarter worth approximately $3,610,000. Institutional investors own 70.04% of the company’s stock.
Genesis Energy Stock Down 2.4 %
Shares of GEL stock opened at $9.95 on Friday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -248.75 and a beta of 2.20. Genesis Energy, L.P. has a one year low of $7.61 and a one year high of $12.95. The company’s fifty day moving average price is $10.52 and its 200-day moving average price is $10.70. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.18 and a quick ratio of 1.03.
Genesis Energy (NYSE:GEL – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The pipeline company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.34). The firm had revenue of $790.60 million for the quarter. Genesis Energy had a net margin of 2.68% and a return on equity of 9.06%. Genesis Energy’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.20) EPS.
Genesis Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 28th were issued a $0.15 dividend. The ex-dividend date was Thursday, April 27th. This represents a $0.60 dividend on an annualized basis and a yield of 6.03%. Genesis Energy’s dividend payout ratio is currently -1,500.00%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Genesis Energy in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Royal Bank of Canada decreased their price objective on shares of Genesis Energy from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, April 21st. Finally, Wells Fargo & Company raised their price objective on shares of Genesis Energy from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, March 2nd.
About Genesis Energy
Genesis Energy LP engages in the provision of midstream services and produces natural soda ash. It operates through the following segments: Offshore Pipeline Transportation, Sodium Minerals and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. The Offshore Pipeline Transportation segment owns interests in crude oil and natural gas pipeline transportation and handling operations through its offshore pipeline transportation segment.
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