Eagle Global Advisors LLC lowered its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 42.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 930,478 shares of the pipeline company’s stock after selling 675,842 shares during the period. Eagle Global Advisors LLC owned approximately 0.76% of Genesis Energy, L.P. worth $29,524,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in GEL. Cutter & CO Brokerage Inc. increased its stake in Genesis Energy, L.P. by 1.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 9,497 shares of the pipeline company’s stock valued at $308,000 after buying an additional 123 shares in the last quarter. Blair William & Co. IL boosted its position in Genesis Energy, L.P. by 0.3% in the first quarter. Blair William & Co. IL now owns 93,471 shares of the pipeline company’s stock worth $3,163,000 after buying an additional 260 shares in the last quarter. LVW Advisors LLC boosted its position in Genesis Energy, L.P. by 1.4% in the first quarter. LVW Advisors LLC now owns 21,491 shares of the pipeline company’s stock worth $697,000 after buying an additional 300 shares in the last quarter. Diversified Trust Co boosted its position in Genesis Energy, L.P. by 1.7% in the second quarter. Diversified Trust Co now owns 24,007 shares of the pipeline company’s stock worth $762,000 after buying an additional 393 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Genesis Energy, L.P. by 0.7% in the first quarter. Ameriprise Financial Inc. now owns 58,355 shares of the pipeline company’s stock worth $1,891,000 after buying an additional 399 shares during the period. 74.59% of the stock is owned by institutional investors and hedge funds.
Shares of Genesis Energy, L.P. (NYSE GEL) opened at 26.43 on Friday. Genesis Energy, L.P. has a 52 week low of $25.87 and a 52 week high of $38.36. The stock has a market cap of $3.24 billion, a PE ratio of 27.28 and a beta of 1.20. The firm has a 50-day moving average of $29.93 and a 200 day moving average of $31.75.
Genesis Energy, L.P. (NYSE:GEL) last issued its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.05. The firm had revenue of $406.72 million for the quarter, compared to analysts’ expectations of $503.22 million. Genesis Energy, L.P. had a net margin of 6.73% and a return on equity of 5.32%. On average, equities analysts forecast that Genesis Energy, L.P. will post $1.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a $0.723 dividend. This represents a $2.89 dividend on an annualized basis and a yield of 10.94%. This is a boost from Genesis Energy, L.P.’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 27th. Genesis Energy, L.P.’s dividend payout ratio is presently 294.90%.
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GEL has been the topic of a number of recent research reports. Zacks Investment Research cut Genesis Energy, L.P. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Credit Suisse Group raised Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating in a research note on Monday, May 15th. BidaskClub upgraded shares of Genesis Energy, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Barclays PLC lowered shares of Genesis Energy, L.P. from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $33.00 to $31.00 in a report on Tuesday, July 18th. Finally, Robert W. Baird upgraded shares of Genesis Energy, L.P. from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $35.00 to $37.00 in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $37.55.
In other news, CFO Robert V. Deere purchased 34,000 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were bought at an average cost of $30.34 per share, with a total value of $1,031,560.00. Following the purchase, the chief financial officer now directly owns 783,935 shares of the company’s stock, valued at $23,784,587.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.
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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