119,015 Genesis Energy, L.P. $GEL Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,322,343 shares of the pipeline company’s stock after selling 119,015 shares during the period. Jefferies Financial Group Inc. owned 1.08% of Genesis Energy worth $18,195,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GEL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Genesis Energy in a report on Wednesday. Royal Bank Of Canada lowered their target price on Genesis Energy from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Genesis Energy Price Performance

Shares of 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 market capitalization of $1.59 billion, a PE ratio of 68.46 and a beta of 0.79. The business’s 50 day moving average is $14.42 and its 200-day moving average is $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.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, November 5th. The pipeline company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.13. The business had revenue of $449.25 million during 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 was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share.

Genesis Energy Dividend Announcement

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

About Genesis Energy

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.