Citigroup Inc. lowered its stake in shares of Genesis Energy, L.P. (NYSE:GEL – Free Report) by 25.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 73,381 shares of the pipeline company’s stock after selling 24,426 shares during the quarter. Citigroup Inc.’s holdings in Genesis Energy were worth $757,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of GEL. Westwood Holdings Group Inc. raised its position in shares of Genesis Energy by 68.7% during the second quarter. Westwood Holdings Group Inc. now owns 3,771,324 shares of the pipeline company’s stock valued at $36,016,000 after buying an additional 1,535,322 shares during the last quarter. Morgan Stanley raised its position in shares of Genesis Energy by 35.7% during the fourth quarter. Morgan Stanley now owns 3,346,220 shares of the pipeline company’s stock valued at $34,165,000 after buying an additional 879,674 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Genesis Energy by 547.0% during the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 653,500 shares of the pipeline company’s stock valued at $6,241,000 after buying an additional 552,500 shares during the last quarter. BNP Paribas Arbitrage SNC raised its position in shares of Genesis Energy by 737.5% during the second quarter. BNP Paribas Arbitrage SNC now owns 544,455 shares of the pipeline company’s stock valued at $5,200,000 after buying an additional 479,442 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Genesis Energy by 7.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,459,602 shares of the pipeline company’s stock valued at $61,689,000 after purchasing an additional 453,990 shares in the last quarter. Institutional investors own 65.76% of the company’s stock.
Genesis Energy Trading Up 0.5 %
GEL stock opened at $11.58 on Friday. The firm has a fifty day moving average price of $11.62 and a 200 day moving average price of $11.18. Genesis Energy, L.P. has a fifty-two week low of $8.05 and a fifty-two week high of $12.78. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.94 and a current ratio of 1.00. The firm has a market cap of $1.42 billion, a PE ratio of 52.91 and a beta of 2.08.
Genesis Energy (NYSE:GEL – Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The pipeline company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.31). The firm had revenue of $774.10 million for the quarter. Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share.
Genesis Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.18%. The ex-dividend date was Tuesday, January 30th. Genesis Energy’s payout ratio is 272.73%.
Analysts Set New Price Targets
GEL has been the subject of a number of recent research reports. Royal Bank of Canada raised their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, November 7th. StockNews.com lowered shares of Genesis Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th.
Genesis Energy Profile
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company’s Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deepwater pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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Source: americanbankingnews.com
