Miller Howard Investments Inc. NY Sells 74,396 Shares of Genesis Energy, L.P. $GEL

Key Points

• Miller Howard Investments Inc. NY trimmed its position in Genesis Energy by 3.6%, selling 74,396 shares and leaving 1,977,044 shares (about 1.61% ownership) valued at roughly $30.84 million at quarter-end.
• Genesis Energy missed analysts' estimates, reporting $0.04 EPS versus a $0.28 consensus while posting revenue of $440.76 million (+10.5% year-over-year) but showing negative net margin and return on equity.
• The partnership declared a quarterly dividend of $0.18 (annualized $0.72), implying a 4.3% yield; the ex-dividend date is April 30 and payment is scheduled for May 15.

Miller Howard Investments Inc. NY lessened its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,977,044 shares of the pipeline company's stock after selling 74,396 shares during the quarter. Miller Howard Investments Inc. NY owned 1.61% of Genesis Energy worth $30,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fulcrum Asset Management LLP bought a new stake in Genesis Energy during the 3rd quarter valued at about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Genesis Energy by 29.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company's stock valued at $107,285,000 after buying an additional 1,465,339 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in Genesis Energy by 53.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 47,850 shares of the pipeline company's stock valued at $800,000 after buying an additional 16,750 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Genesis Energy by 24.9% during the 3rd quarter. Raymond James Financial Inc. now owns 71,156 shares of the pipeline company's stock valued at $1,189,000 after buying an additional 14,193 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Genesis Energy during the 3rd quarter valued at about $170,000. Institutional investors own 66.82% of the company's stock.

Genesis Energy Stock Down 0.0%

Shares of Genesis Energy stock opened at $16.83 on Monday. The firm's 50 day moving average price is $17.70 and its 200-day moving average price is $16.57. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 19.59. Genesis Energy, L.P. has a 52-week low of $13.21 and a 52-week high of $18.64. The company has a market cap of $2.06 billion, a P/E ratio of -4.02 and a beta of 0.76.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The pipeline company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.24). Genesis Energy had a negative return on equity of 10.04% and a negative net margin of 27.01%.The firm had revenue of $440.76 million during the quarter. During the same quarter in the prior year, the firm posted ($0.58) earnings per share. The firm's revenue was up 10.5% on a year-over-year basis.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.3%. Genesis Energy's payout ratio is presently -17.18%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Genesis Energy in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Genesis Energy currently has an average rating of "Moderate Buy" and an average target price of $19.50.

About Genesis Energy

Genesis Energy LP NYSE: GEL is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company's primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy's operations are organized into several key business segments.

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