CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $6.71 Million Stake in Genesis Energy, L.P. (NYSE:GEL)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 9.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 427,837 shares of the pipeline company's stock after purchasing an additional 37,824 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.35% of Genesis Energy worth $6,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GEL. Fort Washington Investment Advisors Inc. OH lifted its holdings 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 acquiring an additional 89,029 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 418,555 shares during the last quarter. Manning & Napier Advisors LLC lifted its holdings in shares of Genesis Energy by 28.6% in the first quarter. Manning & Napier Advisors LLC now owns 450,000 shares of the pipeline company's stock worth $7,060,000 after acquiring an additional 100,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Genesis Energy in the fourth quarter worth about $404,000. Finally, Raymond James Financial Inc. bought a new position in shares of Genesis Energy in the fourth quarter worth about $943,000. Institutional investors own 66.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GEL shares. Wells Fargo & Company raised shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $15.00 to $18.00 in a report on Monday, March 17th. Royal Bank Of Canada raised their price objective on shares of Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Monday, March 17th. Finally, Wall Street Zen cut shares of Genesis Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

Genesis Energy Trading Up 0.7%

Shares of NYSE:GEL traded up $0.13 during mid-day trading on Friday, reaching $17.38. 320,077 shares of the company's stock were exchanged, compared to its average volume of 509,195. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -3.34 and a beta of 1.03. The business's fifty day moving average price is $15.52 and its 200-day moving average price is $13.28. The company has a debt-to-equity ratio of 18.33, a quick ratio of 1.42 and a current ratio of 1.48. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $17.43.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.37). The business had revenue of $398.31 million for the quarter. Genesis Energy had a negative return on equity of 19.28% and a negative net margin of 20.98%. The business's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) EPS.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.80%. Genesis Energy's dividend payout ratio (DPR) is presently -12.67%.

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.