Selz Capital LLC held its position in shares of Genesis Energy, L.P. (NYSE:GEL) during the first quarter, according to its most recent filing with the SEC. The firm owned 426,000 shares of the pipeline company’s stock at the end of the first quarter. Genesis Energy, L.P. accounts for 3.6% of Selz Capital LLC’s holdings, making the stock its 8th largest position. Selz Capital LLC owned about 0.36% of Genesis Energy, L.P. worth $13,811,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in GEL. Enterprise Financial Services Corp increased its position in shares of Genesis Energy, L.P. by 7.0% in the third quarter. Enterprise Financial Services Corp now owns 2,839 shares of the pipeline company’s stock valued at $108,000 after buying an additional 185 shares during the last quarter. Solaris Asset Management LLC increased its position in shares of Genesis Energy, L.P. by 13.0% in the third quarter. Solaris Asset Management LLC now owns 3,475 shares of the pipeline company’s stock valued at $132,000 after buying an additional 400 shares during the last quarter. Advisor Group Inc. increased its position in shares of Genesis Energy, L.P. by 45.1% in the third quarter. Advisor Group Inc. now owns 4,670 shares of the pipeline company’s stock valued at $177,000 after buying an additional 1,451 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new position in shares of Genesis Energy, L.P. during the third quarter valued at $243,000. Finally, Usca Ria LLC increased its position in shares of Genesis Energy, L.P. by 0.3% in the third quarter. Usca Ria LLC now owns 8,335 shares of the pipeline company’s stock valued at $316,000 after buying an additional 25 shares during the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.
Genesis Energy, L.P. (NYSE:GEL) traded up 0.19% on Thursday, reaching $31.81. The company had a trading volume of 326,271 shares. The company has a market capitalization of $3.75 billion, a PE ratio of 31.87 and a beta of 1.24. The company’s 50-day moving average is $32.74 and its 200-day moving average is $34.60. Genesis Energy, L.P. has a 52-week low of $30.01 and a 52-week high of $40.90.
Genesis Energy, L.P. (NYSE:GEL) last released its earnings results on Thursday, February 16th. The pipeline company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.13. The business earned $428.05 million during the quarter, compared to analyst estimates of $583.49 million. Genesis Energy, L.P. had a net margin of 6.68% and a return on equity of 5.70%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. Equities analysts anticipate that Genesis Energy, L.P. will post $1.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 28th will be paid a $0.72 dividend. This is a positive change from Genesis Energy, L.P.’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 9.05%. The ex-dividend date of this dividend is Wednesday, April 26th. Genesis Energy, L.P.’s dividend payout ratio is presently 267.93%.
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Several brokerages have recently weighed in on GEL. Vetr raised Genesis Energy, L.P. from a “buy” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research note on Monday, March 6th. Royal Bank of Canada downgraded Genesis Energy, L.P. from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $39.00 to $38.00 in a research note on Friday, February 17th. Wells Fargo & Co downgraded Genesis Energy, L.P. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 11th. Capital One Financial Corp. raised Genesis Energy, L.P. from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 31st. Finally, Mitsubishi UFJ Financial Group Inc reduced their target price on Genesis Energy, L.P. from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, March 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $39.58.
Genesis Energy, L.P. Company Profile
Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.
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