Westwood Holdings Group Inc. Sells 1,498,124 Shares of Genesis Energy, L.P. (NYSE:GEL)

Key Points

• Westwood Holdings Group Inc. has reduced its stake in Genesis Energy by 40.2%, selling 1,498,124 shares and now holding approximately 1.82% of the company valued at $34.9 million.
• Genesis Energy reported a net loss of ($0.12) EPS for the most recent quarter, which was lower than the consensus estimate of ($0.04), with revenues declining 12.3% year-over-year to $377.35 million.
• The company recently declared a quarterly dividend of $0.165, translating to an annualized yield of 3.9%, with a negative payout ratio of -12.99%.

Westwood Holdings Group Inc. cut its position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 40.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,224,065 shares of the pipeline company's stock after selling 1,498,124 shares during the period. Westwood Holdings Group Inc. owned 1.82% of Genesis Energy worth $34,896,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GEL. F M Investments LLC bought a new position in shares of Genesis Energy in the fourth quarter valued at approximately $122,000. Ameriprise Financial Inc. bought a new position in Genesis Energy in the 4th quarter worth $126,000. Cetera Investment Advisers acquired a new position in Genesis Energy during the 1st quarter worth $193,000. Arrow Investment Advisors LLC boosted its holdings in Genesis Energy by 21.1% during the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock valued at $215,000 after acquiring an additional 2,381 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of 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 last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy Stock Performance

Shares of GEL traded down $0.33 during trading hours on Friday, reaching $16.77. 514,027 shares of the company traded hands, compared to its average volume of 587,427. The company has a debt-to-equity ratio of 18.85, a quick ratio of 0.85 and a current ratio of 0.94. The stock's fifty day moving average is $16.75 and its 200 day moving average is $14.58. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $17.77. The stock has a market cap of $2.05 billion, a P/E ratio of -3.30 and a beta of 1.09.

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

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, July 31st. Genesis Energy's dividend payout ratio (DPR) is -12.99%.

Analyst Ratings Changes

Several research firms recently weighed in on GEL. Royal Bank Of Canada boosted their price objective on Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen lowered Genesis Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st.

About Genesis Energy

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.