Westwood Holdings Group Inc. Reduces Stake in Genesis Energy, L.P. (NYSE:GEL)

Westwood Holdings Group Inc. reduced its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,722,189 shares of the pipeline company's stock after selling 185,218 shares during the period. Westwood Holdings Group Inc. owned about 3.04% of Genesis Energy worth $37,631,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of Genesis Energy by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock worth $369,000 after purchasing an additional 1,584 shares during the last quarter. Mariner LLC raised its position in Genesis Energy by 7.0% in the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock valued at $359,000 after purchasing an additional 2,321 shares during the period. Envestnet Asset Management Inc. raised its position in Genesis Energy by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company's stock valued at $488,000 after purchasing an additional 2,717 shares during the period. Captrust Financial Advisors raised its position in Genesis Energy by 9.1% in the fourth quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company's stock valued at $350,000 after purchasing an additional 2,900 shares during the period. Finally, Pinnacle Holdings LLC increased its position in shares of Genesis Energy by 2.4% during the fourth quarter. Pinnacle Holdings LLC now owns 234,890 shares of the pipeline company's stock worth $2,375,000 after acquiring an additional 5,481 shares during the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Stock Performance

Shares of GEL stock opened at $15.18 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The business has a 50 day moving average of $14.35 and a two-hundred day moving average of $12.30. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $16.44. The company has a market cap of $1.86 billion, a P/E ratio of -12.24 and a beta of 1.08.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its 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). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The company had revenue of $398.31 million during the quarter. During the same period in the prior year, the firm posted ($0.09) EPS. The firm's revenue for the quarter was down 8.3% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, April 30th. This represents a $0.66 annualized dividend and a dividend yield of 4.35%. Genesis Energy's dividend payout ratio is presently -12.67%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GEL shares. Royal Bank of Canada lifted their target price on Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. StockNews.com raised Genesis Energy from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $15.00 to $18.00 in a report on Monday, March 17th.

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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