MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its stake in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,345,308 shares of the pipeline company's stock after selling 331,176 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 3.55% of Genesis Energy worth $43,931,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its holdings in Genesis Energy by 4.5% in 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 boosted its stake in shares of Genesis Energy by 7.0% during the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock worth $359,000 after acquiring an additional 2,321 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Genesis Energy by 6.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company's stock worth $488,000 after acquiring an additional 2,717 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Genesis Energy by 9.1% during the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company's stock worth $350,000 after acquiring an additional 2,900 shares during the last quarter. Finally, Pinnacle Holdings LLC boosted its stake in shares of Genesis Energy by 2.4% during the 4th 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. Hedge funds and other institutional investors own 66.82% of the company's stock.
Genesis Energy Price Performance
Shares of GEL traded up $0.05 during trading hours on Friday, reaching $15.35. 211,416 shares of the stock traded hands, compared to its average volume of 490,682. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $16.44. The company's 50-day moving average price is $14.31 and its two-hundred day moving average price is $12.27. The company has a market cap of $1.88 billion, a P/E ratio of -12.38 and a beta of 1.08.
Genesis Energy (NYSE:GEL - Get Free Report) last released its earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share 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 firm had revenue of $398.31 million for the quarter. During the same quarter last year, the business posted ($0.09) EPS. The business's quarterly revenue was down 8.3% compared to the same quarter last year.
Genesis Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Wednesday, April 30th. Genesis Energy's dividend payout ratio (DPR) is -12.67%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Monday, March 17th. Wells Fargo & Company upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Finally, StockNews.com upgraded shares of Genesis Energy from a "sell" rating to a "hold" rating in a research note on Tuesday.
Get Our Latest Analysis on GEL
Genesis Energy Company Profile
(
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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