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

Jefferies Financial Group Inc. decreased its holdings in shares of Genesis Energy, L.P. (NYSE:GEL) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,322,343 shares of the pipeline company’s stock after selling 119,015 shares during the period. Jefferies Financial Group Inc.’s holdings in Genesis Energy were worth $18,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEL. NEOS Investment Management LLC boosted its holdings in Genesis Energy by 67.0% during the second quarter. NEOS Investment Management LLC now owns 600,617 shares of the pipeline company’s stock valued at $8,511,000 after purchasing an additional 240,886 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Genesis Energy in the 2nd quarter worth approximately $6,872,000. Bank of America Corp DE raised its holdings in shares of Genesis Energy by 18.4% in the 1st quarter. Bank of America Corp DE now owns 546,297 shares of the pipeline company’s stock worth $9,740,000 after buying an additional 85,060 shares in the last quarter. Pinnacle Holdings LLC bought a new position in shares of Genesis Energy during the 2nd quarter worth approximately $3,345,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in shares of Genesis Energy by 68.5% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 88,884 shares of the pipeline company’s stock worth $1,223,000 after buying an additional 36,141 shares during the period. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

NYSE:GEL opened at $13.01 on Thursday. Genesis Energy, L.P. has a 1 year low of $12.48 and a 1 year high of $18.64. The firm has a 50 day moving average of $14.42 and a 200-day moving average of $15.84. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 33.18. The stock has a market capitalization of $1.59 billion, a P/E ratio of 68.46 and a beta of 0.79.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, November 5th. The pipeline company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.13. The business had revenue of $449.25 million for the quarter, compared to analyst estimates of $449.25 million. Genesis Energy had a return on equity of 57.46% and a net margin of 3.85%. Genesis Energy’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) EPS.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $0.20 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.80 annualized dividend and a yield of 6.2%. Genesis Energy’s payout ratio is presently 421.05%.

Analyst Upgrades and Downgrades

GEL has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genesis Energy in a research note on Wednesday. Royal Bank Of Canada dropped their price objective on Genesis Energy from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Genesis Energy Profile

Genesis Energy, L.P. is a midstream energy company that owns and operates infrastructure for transporting and handling crude oil and other energy-related products. Its businesses include offshore pipeline transportation, onshore facilities and transportation, marine transportation, and soda and sulfur services. In the Gulf of Mexico, the company gathers and transports crude oil through offshore pipelines. Its marine fleet of vessels and barges supports the movement of crude oil and other products, while its onshore facilities and transportation operations provide related storage and logistics services.