Genesis Energy, L.P. $GEL Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. trimmed its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,848,886 shares of the pipeline company’s stock after selling 48,250 shares during the period. Jefferies Financial Group Inc.’s holdings in Genesis Energy were worth $30,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. ING Groep NV boosted its holdings in Genesis Energy by 63.5% during the third quarter. ING Groep NV now owns 2,375,800 shares of the pipeline company’s stock worth $39,700,000 after buying an additional 922,600 shares in the last quarter. Miller Howard Investments Inc. NY grew its position in Genesis Energy by 37.8% during the third quarter. Miller Howard Investments Inc. NY now owns 2,051,440 shares of the pipeline company’s stock valued at $34,280,000 after buying an additional 562,850 shares during the period. Alps Advisors Inc. increased its holdings in Genesis Energy by 2.4% in the third quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock valued at $401,362,000 after buying an additional 559,197 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Genesis Energy by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock valued at $63,934,000 after buying an additional 478,530 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Genesis Energy by 4.7% in the second quarter. JPMorgan Chase & Co. now owns 4,883,712 shares of the pipeline company’s stock worth $84,146,000 after acquiring an additional 220,616 shares during the period. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GEL has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Genesis Energy in a research note on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $20.00 price target on shares of Genesis Energy in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Genesis Energy Trading Down 2.1%

Shares of NYSE:GEL opened at $18.11 on Monday. The business’s 50 day moving average price is $17.00 and its 200-day moving average price is $16.36. Genesis Energy, L.P. has a 1 year low of $11.87 and a 1 year high of $18.64. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -4.32 and a beta of 0.80. The company has a debt-to-equity ratio of 19.59, a current ratio of 0.98 and a quick ratio of 0.90.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, February 12th. The pipeline company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.24). The company had revenue of $440.76 million during the quarter. Genesis Energy had a negative return on equity of 10.04% and a negative net margin of 27.01%.The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.58) earnings per share.

Genesis Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $0.18 per share. This is an increase from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, January 30th. Genesis Energy’s dividend payout ratio is presently -17.18%.

Genesis Energy Company Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.