LPL Financial LLC Trims Stake in Genesis Energy, L.P. (NYSE:GEL)
LPL Financial LLC reduced its stake in Genesis Energy, L.P. (NYSE:GEL) by 60.1% in Q4, now holding 15,484 shares valued at $157,000. Other institutional investors also adjusted their positions, with Whittier Trust Co. acquiring a new stake worth $404,000. Genesis Energy's stock opened at $13.69, with a 12-month range of $9.86 to $16.44. The company reported a loss of $0.58 per share for the last quarter and announced a quarterly dividend of $0.165, payable on May 15th. Wells Fargo upgraded its rating on the stock to "overweight" with a target price of $18.00.
LPL Financial LLC cut its stake in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 60.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,484 shares of the pipeline company's stock after selling 23,332 shares during the period. LPL Financial LLC's holdings in Genesis Energy were worth $157,000 at the end of the most recent reporting period.
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A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in Genesis Energy during the 4th quarter valued at approximately $404,000. Advisors Asset Management Inc. grew its stake in shares of Genesis Energy by 6.3% in the fourth quarter. Advisors Asset Management Inc. now owns 221,191 shares of the pipeline company's stock worth $2,236,000 after acquiring an additional 13,068 shares during the last quarter. Tejara Capital Ltd bought a new position in shares of Genesis Energy during the fourth quarter valued at $3,205,000. Sowell Financial Services LLC boosted its stake in Genesis Energy by 21.8% in the 4th quarter. Sowell Financial Services LLC now owns 92,401 shares of the pipeline company's stock worth $934,000 after purchasing an additional 16,525 shares in the last quarter. Finally, BBR Partners LLC grew its position in Genesis Energy by 20.9% during the 4th quarter. BBR Partners LLC now owns 58,583 shares of the pipeline company's stock valued at $592,000 after purchasing an additional 10,122 shares during the last quarter. Hedge funds and other institutional investors own 66.82% of the company's stock.
Genesis Energy Price Performance
Genesis Energy stock opened at $13.69 on Thursday. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $16.44. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The firm has a 50-day moving average price of $13.88 and a 200-day moving average price of $12.16. The firm has a market capitalization of $1.68 billion, a PE ratio of -11.04 and a beta of 1.39.
Genesis Energy (NYSE:GEL - Get Free Report) last issued 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). The firm had revenue of $725.55 million for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.
Genesis Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.82%. Genesis Energy's payout ratio is currently -53.23%.
Wall Street Analysts Forecast Growth
GEL has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $15.00 to $18.00 in a report on Monday, March 17th. Royal Bank of Canada lifted their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th.
View Our Latest Research Report on GEL
Genesis Energy 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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