Cypress Wealth Advisors LLC Sells 10,150 Shares of Genesis Energy, L.P. (GEL)
Cypress Wealth Advisors LLC lessened its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,100 shares of the pipeline company’s stock after selling 10,150 shares during the quarter. Genesis Energy comprises 2.7% of Cypress Wealth Advisors LLC’s portfolio, making the stock its 10th biggest holding. Cypress Wealth Advisors LLC owned approximately 0.09% of Genesis Energy worth $2,523,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its stake in shares of Genesis Energy by 259.9% in the 2nd quarter. Jane Street Group LLC now owns 13,413 shares of the pipeline company’s stock valued at $294,000 after purchasing an additional 21,802 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Genesis Energy in the 3rd quarter valued at approximately $359,000. Tortoise Index Solutions LLC lifted its stake in shares of Genesis Energy by 16.3% in the 2nd quarter. Tortoise Index Solutions LLC now owns 15,972 shares of the pipeline company’s stock valued at $350,000 after purchasing an additional 2,233 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Genesis Energy in the 3rd quarter valued at approximately $419,000. Finally, LVW Advisors LLC lifted its stake in shares of Genesis Energy by 37.0% in the 3rd quarter. LVW Advisors LLC now owns 24,325 shares of the pipeline company’s stock valued at $578,000 after purchasing an additional 6,575 shares during the last quarter. Institutional investors and hedge funds own 75.09% of the company’s stock.
Several equities research analysts have recently issued reports on the company. ValuEngine raised Genesis Energy from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Robert W. Baird lowered their price objective on Genesis Energy from $26.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, November 2nd. Barclays raised their price target on Genesis Energy from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, October 12th. Raymond James reissued a “buy” rating on shares of Genesis Energy in a research note on Monday, August 13th. Finally, Royal Bank of Canada raised Genesis Energy from a “sector perform” rating to an “outperform” rating and set a $29.00 price target for the company in a research note on Friday, November 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $27.60.
Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, November 1st. The pipeline company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.35). Genesis Energy had a return on equity of 5.92% and a net margin of 1.16%. The business had revenue of $745.30 million for the quarter, compared to the consensus estimate of $736.85 million. During the same period in the prior year, the business posted $0.01 earnings per share. Genesis Energy’s revenue was up 53.3% on a year-over-year basis. Research analysts expect that Genesis Energy, L.P. will post -0.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st were paid a dividend of $0.54 per share. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 9.57%. The ex-dividend date of this dividend was Tuesday, October 30th. Genesis Energy’s dividend payout ratio (DPR) is currently 203.77%.
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Genesis Energy Profile
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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