Genesis Energy, L.P. $GEL Shares Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors Inc. OH has reduced its holdings in Genesis Energy, L.P. by 59.6%, now owning 44,684 shares valued at $770,000.
• Several institutional investors, including Alps Advisors Inc. and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., have increased their stakes in Genesis Energy during the first quarter, indicating growing interest among large investors.
• Genesis Energy reported a loss per share of ($0.12) for the last quarter, which was below analyst expectations, with revenue declining 12.3% year-over-year to $377.35 million.

Fort Washington Investment Advisors Inc. OH reduced its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 59.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,684 shares of the pipeline company's stock after selling 65,974 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Genesis Energy were worth $770,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GEL. Alps Advisors Inc. grew its holdings in Genesis Energy by 16.6% during the first quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company's stock worth $376,877,000 after acquiring an additional 3,422,967 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Genesis Energy by 28.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company's stock worth $87,911,000 after purchasing an additional 1,257,712 shares during the period. Miller Howard Investments Inc. NY purchased a new position in shares of Genesis Energy in the 1st quarter valued at about $19,336,000. Goldman Sachs Group Inc. increased its holdings in shares of Genesis Energy by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company's stock valued at $63,934,000 after purchasing an additional 478,530 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Genesis Energy by 2.2% in the first quarter. Invesco Ltd. now owns 18,799,575 shares of the pipeline company's stock valued at $294,965,000 after purchasing an additional 408,927 shares during the period. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on GEL shares. Wall Street Zen upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Wells Fargo & Company boosted their price target on Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada raised their price objective on Genesis Energy from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $19.50.

Genesis Energy Price Performance

GEL stock opened at $16.63 on Tuesday. The stock's 50 day moving average price is $16.73 and its 200 day moving average price is $15.92. The firm has a market cap of $2.04 billion, a P/E ratio of -3.27 and a beta of 1.23. The company has a debt-to-equity ratio of 18.85, a quick ratio of 0.85 and a current ratio of 0.94. Genesis Energy, L.P. has a 1 year low of $9.86 and a 1 year high of $17.77.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%.The company had revenue of $377.35 million during the quarter. During the same period last year, the business posted ($0.25) earnings per share. The firm's revenue was down 12.3% on a year-over-year basis.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Thursday, July 31st. Genesis Energy's dividend payout ratio is -12.99%.

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.

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