JPMorgan Chase & Co. Sells 101,408 Shares of Genesis Energy, L.P. (GEL)

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JPMorgan Chase & Co. lessened its stake in Genesis Energy, L.P. (NYSE:GEL) by 2.6% in the 1st quarter, Holdings Channel reports. The firm owned 3,762,775 shares of the pipeline company’s stock after selling 101,408 shares during the period. JPMorgan Chase & Co.’s holdings in Genesis Energy were worth $87,673,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Abacus Planning Group Inc. acquired a new stake in shares of Genesis Energy in the fourth quarter valued at approximately $1,394,000. GWM Advisors LLC increased its holdings in shares of Genesis Energy by 18.9% in the fourth quarter. GWM Advisors LLC now owns 11,700 shares of the pipeline company’s stock valued at $216,000 after purchasing an additional 1,856 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of Genesis Energy by 10.8% in the first quarter. Stephens Inc. AR now owns 20,096 shares of the pipeline company’s stock valued at $468,000 after purchasing an additional 1,964 shares during the last quarter. MAI Capital Management increased its holdings in shares of Genesis Energy by 1.2% in the first quarter. MAI Capital Management now owns 218,543 shares of the pipeline company’s stock valued at $5,092,000 after purchasing an additional 2,619 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its holdings in shares of Genesis Energy by 4.5% in the first quarter. First Republic Investment Management Inc. now owns 79,995 shares of the pipeline company’s stock valued at $1,864,000 after purchasing an additional 3,447 shares during the last quarter. 75.58% of the stock is owned by hedge funds and other institutional investors.

GEL stock opened at $22.85 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -285.63 and a beta of 1.41. Genesis Energy, L.P. has a 52-week low of $17.55 and a 52-week high of $25.52.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, May 2nd. The pipeline company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.19). The business had revenue of $620.00 million for the quarter, compared to analyst estimates of $719.55 million. Genesis Energy had a return on equity of 5.10% and a net margin of 0.07%. Genesis Energy’s revenue was down 14.6% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. As a group, equities research analysts anticipate that Genesis Energy, L.P. will post 0.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.55 per share. The ex-dividend date was Tuesday, April 30th. This represents a $2.20 annualized dividend and a yield of 9.63%. Genesis Energy’s dividend payout ratio (DPR) is -2,750.00%.

GEL has been the subject of several recent analyst reports. Zacks Investment Research raised Genesis Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 27th. ValuEngine raised Genesis Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.75.

In other Genesis Energy news, Director Kenneth M. Jastrow II bought 50,000 shares of the business’s stock in a transaction on Friday, May 10th. The stock was bought at an average price of $21.54 per share, with a total value of $1,077,000.00. Following the completion of the purchase, the director now directly owns 70,129 shares in the company, valued at $1,510,578.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edward T. Flynn bought 15,700 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $21.73 per share, with a total value of $341,161.00. Following the purchase, the insider now owns 43,916 shares of the company’s stock, valued at $954,294.68. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 69,700 shares of company stock valued at $1,502,161. 0.72% of the stock is owned by insiders.

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About Genesis Energy

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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