MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stock Position in Genesis Energy, L.P. (NYSE:GEL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 7.1% during the fourth quarter, Holdings Channel reports. The firm owned 4,345,308 shares of the pipeline company’s stock after selling 331,176 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Genesis Energy were worth $43,931,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its position in Genesis Energy by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after purchasing an additional 1,584 shares during the period. Mariner LLC increased its position in Genesis Energy by 7.0% during the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock valued at $359,000 after purchasing an additional 2,321 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Genesis Energy by 6.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock valued at $488,000 after buying an additional 2,717 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Genesis Energy by 9.1% during the 4th quarter. Captrust Financial Advisors now owns 34,620 shares of the pipeline company’s stock valued at $350,000 after buying an additional 2,900 shares in the last quarter. Finally, Pinnacle Holdings LLC boosted its holdings in shares of Genesis Energy by 2.4% during the 4th quarter. Pinnacle Holdings LLC now owns 234,890 shares of the pipeline company’s stock valued at $2,375,000 after buying an additional 5,481 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GEL has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, March 17th. StockNews.com upgraded shares of Genesis Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $15.00 to $18.00 in a report on Monday, March 17th.

Genesis Energy Stock Performance

Shares of Genesis Energy stock opened at $15.29 on Wednesday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -12.33 and a beta of 1.08. The firm’s 50-day moving average is $14.18 and its 200 day moving average is $12.22. Genesis Energy, L.P. has a 1 year low of $9.86 and a 1 year high of $16.44. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.37). The firm had revenue of $398.31 million during the quarter. Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. Genesis Energy’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.09) EPS.

Genesis Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Wednesday, April 30th. Genesis Energy’s payout ratio is -12.67%.

Genesis Energy Company 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.