Clearbridge Investments LLC Sells 14,000 Shares of Genesis Energy, L.P. (NYSE:GEL)

Clearbridge Investments LLC cut its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,247,226 shares of the pipeline company’s stock after selling 14,000 shares during the period. Clearbridge Investments LLC owned approximately 2.65% of Genesis Energy worth $36,109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in Genesis Energy during the 4th quarter worth $46,000. Mather Group LLC. acquired a new stake in shares of Genesis Energy during the first quarter worth about $55,000. Tower Research Capital LLC TRC lifted its holdings in shares of Genesis Energy by 170.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,311 shares of the pipeline company’s stock valued at $62,000 after purchasing an additional 3,347 shares in the last quarter. Pettinga Financial Advisors LLC grew its position in shares of Genesis Energy by 9.9% in the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock valued at $248,000 after purchasing an additional 2,000 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Genesis Energy in the 4th quarter valued at approximately $261,000. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Up 1.0 %

GEL stock traded up $0.15 during mid-day trading on Tuesday, hitting $14.53. 291,365 shares of the company were exchanged, compared to its average volume of 364,771. The firm has a market cap of $1.78 billion, a P/E ratio of 42.74 and a beta of 2.11. Genesis Energy, L.P. has a 1-year low of $8.05 and a 1-year high of $15.17. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.90 and a current ratio of 1.05. The firm’s 50 day simple moving average is $13.56 and its 200 day simple moving average is $12.34.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, May 2nd. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.10). The company had revenue of $770.11 million for the quarter. Genesis Energy had a return on equity of 14.70% and a net margin of 4.14%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.60 annualized dividend and a dividend yield of 4.13%. Genesis Energy’s dividend payout ratio is presently 176.48%.

Genesis Energy Profile

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.