Clearbridge Investments LLC Sells 220,643 Shares of Genesis Energy, L.P. (NYSE:GEL)

Clearbridge Investments LLC lowered its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 6.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,026,583 shares of the pipeline company’s stock after selling 220,643 shares during the period. Clearbridge Investments LLC owned approximately 2.47% of Genesis Energy worth $30,599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Millburn Ridgefield Corp bought a new position in Genesis Energy during the third quarter valued at approximately $59,000. Stifel Financial Corp lifted its holdings in shares of Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after buying an additional 1,819 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Genesis Energy by 101.8% during the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $341,000 after buying an additional 16,099 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock worth $369,000 after buying an additional 1,584 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Genesis Energy in the fourth quarter worth $404,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Price Performance

NYSE GEL opened at $15.80 on Wednesday. The business’s fifty day moving average is $12.65 and its 200 day moving average is $12.06. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $16.44. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The company has a market capitalization of $1.93 billion, a PE ratio of -12.74 and a beta of 1.92.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data 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). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The company had revenue of $725.55 million for the quarter.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.165 dividend. The ex-dividend date was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.18%. Genesis Energy’s dividend payout ratio (DPR) is presently -53.23%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada raised their target price on Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th. Wells Fargo & Company raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $15.00 to $18.00 in a report on Monday, March 17th.

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.