Wells Fargo & Company MN Sells 440,397 Shares of Genesis Energy, L.P. (NYSE:GEL)

Wells Fargo & Company MN lowered its holdings in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 55.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 348,888 shares of the pipeline company's stock after selling 440,397 shares during the period. Wells Fargo & Company MN owned approximately 0.28% of Genesis Energy worth $3,527,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Rangeley Capital LLC acquired a new stake in Genesis Energy during the fourth quarter worth approximately $2,133,000. Summit Financial LLC acquired a new stake in Genesis Energy during the fourth quarter worth approximately $2,128,000. CIBC Private Wealth Group LLC grew its stake in Genesis Energy by 5,667.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 190,342 shares of the pipeline company's stock worth $1,972,000 after purchasing an additional 187,042 shares during the period. JPMorgan Chase & Co. grew its stake in Genesis Energy by 9.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock worth $47,169,000 after purchasing an additional 418,555 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Genesis Energy during the fourth quarter worth approximately $404,000. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Stock Up 1.3 %

NYSE:GEL traded up $0.18 on Monday, hitting $14.31. The stock had a trading volume of 217,823 shares, compared to its average volume of 488,702. The business's fifty day moving average is $13.81 and its 200 day moving average is $12.13. The company has a market cap of $1.75 billion, a PE ratio of -11.54 and a beta of 1.39. The company has a quick ratio of 0.91, a current ratio of 1.03 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.

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

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.61%. Genesis Energy's dividend payout ratio is presently -53.23%.

Analyst Ratings Changes

GEL has been the subject of several recent analyst reports. 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 note on Monday, March 17th. Wells Fargo & Company upgraded Genesis Energy from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $15.00 to $18.00 in a report on Monday, March 17th.

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.