LPL Financial LLC Cuts Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

LPL Financial LLC cut its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 60.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,484 shares of the pipeline company's stock after selling 23,332 shares during the quarter. LPL Financial LLC's holdings in Genesis Energy were worth $157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GEL. Mutual Advisors LLC increased its stake in shares of 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 buying an additional 16,099 shares during the period. Oppenheimer Asset Management Inc. increased its position in Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock valued at $369,000 after acquiring an additional 1,584 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Genesis Energy during the fourth quarter valued at $404,000. ARS Investment Partners LLC lifted its holdings in shares of Genesis Energy by 35.9% during the fourth quarter. ARS Investment Partners LLC now owns 46,000 shares of the pipeline company's stock worth $465,000 after purchasing an additional 12,154 shares during the period. Finally, BBR Partners LLC lifted its holdings in shares of Genesis Energy by 20.9% during the fourth quarter. BBR Partners LLC now owns 58,583 shares of the pipeline company's stock worth $592,000 after purchasing an additional 10,122 shares during the period. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada raised 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. Wells Fargo & Company upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $15.00 to $18.00 in a report on Monday, March 17th.

Genesis Energy Trading Up 1.1 %

Shares of GEL stock traded up $0.16 during trading hours on Tuesday, hitting $13.96. 492,854 shares of the company were exchanged, compared to its average volume of 485,947. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $16.44. The company has a 50 day simple moving average of $14.01 and a two-hundred day simple moving average of $12.16. The firm has a market cap of $1.71 billion, a P/E ratio of -11.25 and a beta of 1.08.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The company had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Wednesday, April 30th. Genesis Energy's dividend payout ratio (DPR) is currently -53.23%.

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.