Jefferies Financial Group Inc. lifted its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,552,257 shares of the pipeline company's stock after purchasing an additional 20,000 shares during the quarter. Jefferies Financial Group Inc. owned about 1.27% of Genesis Energy worth $15,693,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. F M Investments LLC acquired a new stake in Genesis Energy in the fourth quarter valued at approximately $122,000. Ameriprise Financial Inc. purchased a new position in Genesis Energy in the fourth quarter valued at approximately $126,000. Mutual Advisors LLC increased its stake in Genesis Energy by 101.8% in the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock valued at $341,000 after purchasing an additional 16,099 shares during the last quarter. Captrust Financial Advisors increased its stake 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 last quarter. Finally, Mariner LLC increased its stake 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 last quarter. Hedge funds and other institutional investors own 66.82% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have commented on GEL shares. StockNews.com upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $15.00 to $18.00 in a research report on Monday, March 17th. Finally, Royal Bank of Canada raised their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th.
Get Our Latest Report on Genesis Energy
Genesis Energy Trading Up 0.4%
NYSE:GEL traded up $0.05 on Friday, reaching $15.35. The stock had a trading volume of 211,416 shares, compared to its average volume of 490,221. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -12.38 and a beta of 1.08. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The firm's fifty day moving average is $14.26 and its two-hundred day moving average is $12.26. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $16.44.
Genesis Energy (NYSE:GEL - Get Free Report) last posted its earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.37). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The business had revenue of $398.31 million for the quarter. During the same period in the previous year, the business posted ($0.09) earnings per share. The business's quarterly revenue was down 8.3% on a year-over-year basis.
Genesis Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Wednesday, April 30th. Genesis Energy's payout ratio is -12.67%.
About Genesis Energy
(
Free Report)
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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