ELCO Management Co. LLC Reduces Holdings in Genesis Energy, L.P. $GEL

ELCO Management Co. LLC trimmed its stake in Genesis Energy, L.P. (NYSE:GEL) by 72.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,692 shares of the pipeline company’s stock after selling 124,891 shares during the period. ELCO Management Co. LLC’s holdings in Genesis Energy were worth $744,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. MGO One Seven LLC purchased a new position in shares of Genesis Energy in the 4th quarter valued at $327,000. UBS Group AG grew its position in shares of Genesis Energy by 31.3% in the 4th quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock valued at $28,301,000 after buying an additional 432,771 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in shares of Genesis Energy in the 3rd quarter valued at $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 buying an additional 1,465,339 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its position in shares of 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 buying an additional 16,750 shares during the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Genesis Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Genesis Energy Stock Down 2.9%

Shares of NYSE:GEL opened at $15.89 on Tuesday. The stock has a market cap of $1.95 billion, a P/E ratio of -83.65 and a beta of 0.69. The firm has a fifty day moving average price of $17.49 and a 200 day moving average price of $16.69. 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, L.P. has a 1-year low of $14.38 and a 1-year high of $18.64.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.22). The business had revenue of $446.56 million for the quarter, compared to analyst estimates of $446.56 million. Genesis Energy had a return on equity of 22.35% and a net margin of 2.11%.The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.06) EPS.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, April 30th. This represents a $0.72 dividend on an annualized basis and a yield of 4.5%. Genesis Energy’s dividend payout ratio is currently -378.95%.

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.