Genesis Energy, L.P. $GEL Stake Decreased by RR Advisors LLC

Key Points

• RR Advisors LLC reduced its stake in Genesis Energy, L.P. by 34.5%, owning 2.5 million shares valued at $39.48 million, making it the firm's fourth-largest position.
• Several institutional investors increased their holdings in Genesis Energy, with Alps Advisors Inc. raising its position by 16.6%, bringing their total to approximately $376.88 million.
• Genesis Energy reported a quarterly EPS of ($0.12), missing expectations, while also declaring a quarterly dividend of $0.165.

RR Advisors LLC reduced its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 34.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,516,000 shares of the pipeline company's stock after selling 1,328,000 shares during the period. Genesis Energy comprises 9.4% of RR Advisors LLC's investment portfolio, making the stock its 4th biggest position. RR Advisors LLC owned approximately 2.05% of Genesis Energy worth $39,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. lifted its stake in Genesis Energy by 16.6% in the first quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company's stock worth $376,877,000 after purchasing an additional 3,422,967 shares during the last quarter. 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 worth $294,965,000 after buying an additional 408,927 shares in the last quarter. Jefferies Financial Group Inc. increased its holdings in Genesis Energy by 19.9% in the 1st quarter. Jefferies Financial Group Inc. now owns 1,861,276 shares of the pipeline company's stock worth $29,203,000 after buying an additional 309,019 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new stake in Genesis Energy in the first quarter worth approximately $19,336,000. Finally, ING Groep NV raised its position in Genesis Energy by 8.2% in the first quarter. ING Groep NV now owns 925,000 shares of the pipeline company's stock worth $14,513,000 after acquiring an additional 70,000 shares during the period. 66.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GEL. Wells Fargo & Company raised their target price on shares of Genesis Energy from $18.00 to $19.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Royal Bank Of Canada boosted their price objective on shares of Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st.

Genesis Energy Stock Performance

Shares of NYSE:GEL traded up $0.47 during midday trading on Monday, reaching $17.37. The company's stock had a trading volume of 504,380 shares, compared to its average volume of 391,969. The firm has a market capitalization of $2.13 billion, a PE ratio of -3.42 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 18.85. The stock has a fifty day moving average of $16.88 and a 200 day moving average of $14.95. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month 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) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $377.35 million for the quarter. Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The business's revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) EPS.

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, July 31st. Genesis Energy's dividend payout ratio (DPR) is currently -12.99%.

Genesis Energy 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.