Jefferies Financial Group Inc. Decreases Stake in Genesis Energy, L.P. $GEL

Jefferies Financial Group Inc. cut its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,848,886 shares of the pipeline company’s stock after selling 48,250 shares during the quarter. Jefferies Financial Group Inc. owned about 1.51% of Genesis Energy worth $30,895,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in Genesis Energy by 2.4% in the 3rd quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock worth $401,362,000 after acquiring an additional 559,197 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Genesis Energy by 4.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,883,712 shares of the pipeline company’s stock valued at $84,146,000 after purchasing an additional 220,616 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Genesis Energy by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,074,810 shares of the pipeline company’s stock valued at $63,934,000 after purchasing an additional 478,530 shares during the last quarter. ING Groep NV increased its holdings in shares of Genesis Energy by 63.5% in the third quarter. ING Groep NV now owns 2,375,800 shares of the pipeline company’s stock valued at $39,700,000 after purchasing an additional 922,600 shares during the period. Finally, Miller Howard Investments Inc. NY increased its holdings in shares of Genesis Energy by 37.8% in 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 purchasing an additional 562,850 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Price Performance

Shares of GEL opened at $18.11 on Monday. The business’s 50-day moving average is $17.00 and its two-hundred day moving average is $16.36. The company has a market capitalization of $2.22 billion, a P/E ratio of -4.32 and a beta of 0.80. The company has a debt-to-equity ratio of 19.59, a quick ratio of 0.90 and a current ratio of 0.98. Genesis Energy, L.P. has a fifty-two week low of $11.87 and a fifty-two week high of $18.64.

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). The company had revenue of $440.76 million for the quarter. Genesis Energy had a negative net margin of 27.01% and a negative return on equity of 10.04%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.58) EPS.

Genesis Energy Increases Dividend

The business also recently declared 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 an increase from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, January 30th. Genesis Energy’s dividend payout ratio (DPR) is -17.18%.

Analysts Set New Price Targets

GEL has been the subject of a number of research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of Genesis Energy in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Genesis Energy has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

About Genesis Energy

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.