UBS Group AG Boosts Stock Position in Genesis Energy, L.P. $GEL

Key Points

• UBS Group AG increased its stake in Genesis Energy by 31.3% in the fourth quarter, adding 432,771 shares and bringing its total holding to 1,814,140 shares worth about $28.3 million.
• Genesis Energy missed earnings estimates in its latest quarterly report, posting EPS of -$0.06 versus the expected $0.16, though revenue matched forecasts at $446.56 million and rose 12.1% year over year.
• The company declared a quarterly dividend of $0.18 per share, implying an annualized yield of 4.4%, while analysts currently rate the stock a consensus “Moderate Buy” with a $19.50 price target.

UBS Group AG boosted its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 31.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,814,140 shares of the pipeline company's stock after purchasing an additional 432,771 shares during the period. UBS Group AG owned about 1.48% of Genesis Energy worth $28,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lee Financial Co purchased a new position in Genesis Energy in the third quarter worth $1,235,000. Alps Advisors Inc. boosted its position in Genesis Energy by 2.4% in the third quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company's stock worth $401,362,000 after purchasing an additional 559,197 shares during the last quarter. Miller Howard Investments Inc. NY boosted its position in Genesis Energy by 37.8% in the third quarter. Miller Howard Investments Inc. NY now owns 2,051,440 shares of the pipeline company's stock worth $34,280,000 after purchasing an additional 562,850 shares during the last quarter. ING Groep NV boosted its position in Genesis Energy by 63.5% in the third quarter. ING Groep NV now owns 2,375,800 shares of the pipeline company's stock worth $39,700,000 after purchasing an additional 922,600 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Genesis Energy by 15.4% in the third quarter. Citigroup Inc. now owns 435,892 shares of the pipeline company's stock worth $7,284,000 after purchasing an additional 58,126 shares during the last quarter. Hedge funds and other institutional investors own 66.82% of the company's stock.

Genesis Energy Stock Performance

Shares of GEL opened at $16.26 on Friday. The company has a debt-to-equity ratio of 19.59, a current ratio of 0.98 and a quick ratio of 0.90. Genesis Energy, L.P. has a 1 year low of $14.03 and a 1 year high of $18.64. The firm has a market cap of $1.99 billion, a PE ratio of -85.59 and a beta of 0.69. The stock's fifty day moving average price is $17.56 and its two-hundred day moving average price is $16.68.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.22). Genesis Energy had a net margin of 2.11% and a return on equity of 22.35%. The company had revenue of $446.56 million for the quarter, compared to the consensus estimate of $446.56 million. During the same quarter in the previous year, the firm posted ($4.06) earnings per share. The business's revenue for the quarter was up 12.1% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, April 30th. Genesis Energy's payout ratio is presently -378.95%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Genesis Energy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Genesis Energy has a consensus rating of "Moderate Buy" and a consensus price target of $19.50.

Genesis Energy Company Profile

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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