Genesis Energy, L.P. (GEL) Holdings Cut by PNC Financial Services Group Inc.

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PNC Financial Services Group Inc. lowered its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,870 shares of the pipeline company’s stock after selling 4,727 shares during the period. PNC Financial Services Group Inc.’s holdings in Genesis Energy were worth $2,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Tortoise Index Solutions LLC increased its holdings in shares of Genesis Energy by 17.0% during the 3rd quarter. Tortoise Index Solutions LLC now owns 18,681 shares of the pipeline company’s stock worth $444,000 after acquiring an additional 2,709 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Genesis Energy by 16.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,394,746 shares of the pipeline company’s stock worth $56,947,000 after acquiring an additional 346,917 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Genesis Energy by 2.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,916,593 shares of the pipeline company’s stock worth $69,356,000 after acquiring an additional 77,911 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Genesis Energy by 636.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 311,581 shares of the pipeline company’s stock worth $7,409,000 after acquiring an additional 269,283 shares during the last quarter. Finally, LVW Advisors LLC increased its holdings in shares of Genesis Energy by 37.0% during the 3rd quarter. LVW Advisors LLC now owns 24,325 shares of the pipeline company’s stock worth $578,000 after acquiring an additional 6,575 shares during the last quarter. Hedge funds and other institutional investors own 75.09% of the company’s stock.

A number of research firms recently weighed in on GEL. ValuEngine raised Genesis Energy from a “sell” rating to a “hold” rating in a report on Monday, August 20th. Barclays boosted their target price on Genesis Energy from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, October 12th. Robert W. Baird decreased their target price on Genesis Energy from $26.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, November 2nd. Zacks Investment Research lowered Genesis Energy from a “hold” rating to a “strong sell” rating in a report on Friday, August 10th. Finally, Raymond James restated a “buy” rating on shares of Genesis Energy in a research note on Monday, August 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $27.60.

GEL opened at $22.30 on Friday. The firm has a market capitalization of $2.76 billion, a P/E ratio of 21.04 and a beta of 1.16. Genesis Energy, L.P. has a 1 year low of $18.42 and a 1 year high of $25.87. The company has a quick ratio of 1.57, a current ratio of 1.77 and a debt-to-equity ratio of 2.06.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, November 1st. The pipeline company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.35). The firm had revenue of $745.30 million during the quarter, compared to the consensus estimate of $736.85 million. Genesis Energy had a net margin of 1.16% and a return on equity of 5.92%. The business’s revenue for the quarter was up 53.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. On average, research analysts expect that Genesis Energy, L.P. will post -0.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st were paid a $0.54 dividend. The ex-dividend date was Tuesday, October 30th. This is an increase from Genesis Energy’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 9.69%. Genesis Energy’s payout ratio is 203.77%.

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Genesis Energy Company Profile

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

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Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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