JPMorgan Chase & Co. Has $64.10 Million Stake in Genesis Energy, L.P. $GEL

JPMorgan Chase & Co. decreased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 21.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,836,094 shares of the pipeline company’s stock after selling 1,047,618 shares during the quarter. JPMorgan Chase & Co. owned 3.13% of Genesis Energy worth $64,101,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Fulcrum Asset Management LLP acquired a new stake in Genesis Energy during the third quarter worth about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Genesis Energy by 29.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock valued at $107,285,000 after acquiring an additional 1,465,339 shares in the last quarter. Hilltop Holdings Inc. raised its holdings in Genesis Energy by 53.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 47,850 shares of the pipeline company’s stock valued at $800,000 after acquiring an additional 16,750 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Genesis Energy by 24.9% in the 3rd quarter. Raymond James Financial Inc. now owns 71,156 shares of the pipeline company’s stock worth $1,189,000 after acquiring an additional 14,193 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Genesis Energy in the 3rd quarter worth approximately $170,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Genesis Energy in a report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Genesis Energy in a research report on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Genesis Energy currently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Genesis Energy Stock Performance

NYSE:GEL opened at $17.49 on Friday. The firm has a market capitalization of $2.14 billion, a PE ratio of -4.18 and a beta of 0.80. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 19.59. Genesis Energy, L.P. has a 12-month low of $11.87 and a 12-month high of $18.64. The firm has a 50-day moving average price of $17.38 and a 200 day moving average price of $16.41.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, February 12th. The pipeline company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.24). Genesis Energy had a negative net margin of 27.01% and a negative return on equity of 10.04%. The company had revenue of $440.76 million for the quarter. During the same quarter last year, the firm earned ($0.58) earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis.

Genesis Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a dividend of $0.18 per share. This is a boost from Genesis Energy’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, January 30th. This represents a $0.72 annualized dividend and a dividend yield of 4.1%. Genesis Energy’s dividend payout ratio is -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.