MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 331,176 Shares of Genesis Energy, L.P. (NYSE:GEL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,345,308 shares of the pipeline company's stock after selling 331,176 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 3.55% of Genesis Energy worth $43,931,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GEL. ARS Investment Partners LLC lifted its stake in Genesis Energy by 35.9% during the 4th quarter. ARS Investment Partners LLC now owns 46,000 shares of the pipeline company's stock valued at $465,000 after acquiring an additional 12,154 shares during the period. Mutual Advisors LLC boosted its stake in shares of Genesis Energy by 101.8% in the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock worth $341,000 after buying an additional 16,099 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of Genesis Energy by 40.0% in the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company's stock worth $3,538,000 after buying an additional 100,000 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Genesis Energy in the fourth quarter worth $920,000. Finally, ING Groep NV increased its position in Genesis Energy by 12.1% during the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company's stock valued at $8,644,000 after acquiring an additional 92,300 shares during the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have 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 raised shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $15.00 to $18.00 in a report on Monday, March 17th. Finally, StockNews.com raised shares of Genesis Energy from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th.

Genesis Energy Price Performance

Shares of GEL stock traded down $0.15 on Monday, hitting $15.19. 31,392 shares of the stock traded hands, compared to its average volume of 488,673. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $16.44. The firm has a 50 day simple moving average of $14.31 and a two-hundred day simple moving average of $12.27. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -12.24 and a beta of 1.08.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.37). The business had revenue of $398.31 million during the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. Genesis Energy's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS.

Genesis Energy Dividend Announcement

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

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.