CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $3.94 Million Holdings in Genesis Energy, L.P. (NYSE:GEL)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 65.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 390,013 shares of the pipeline company’s stock after selling 749,924 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.32% of Genesis Energy worth $3,943,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BBR Partners LLC acquired a new position in Genesis Energy during the third quarter valued at approximately $648,000. Creative Planning bought a new position in Genesis Energy in the 2nd quarter worth $43,591,000. Stifel Financial Corp lifted its position in Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after acquiring an additional 1,819 shares during the last quarter. Murchinson Ltd. acquired a new position in Genesis Energy during the 3rd quarter worth $1,005,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Genesis Energy in the third quarter valued at about $139,000. 66.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GEL has been the subject of several research analyst reports. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their price target on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th.

Genesis Energy Stock Performance

Shares of GEL opened at $10.63 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The company has a 50-day simple moving average of $10.79 and a 200-day simple moving average of $12.36. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $15.17.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The firm had revenue of $714.30 million during the quarter. Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. During the same period in the prior year, the company earned $0.29 EPS.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend is Friday, January 31st. Genesis Energy’s dividend payout ratio (DPR) is presently -89.19%.

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.