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

Jefferies Financial Group Inc. cut its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,687,428 shares of the pipeline company’s stock after selling 161,458 shares during the quarter. Jefferies Financial Group Inc. owned approximately 1.38% of Genesis Energy worth $26,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Genesis Energy by 29.6% in the third 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 purchasing an additional 1,465,339 shares during the period. ING Groep NV grew its holdings in 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. Alps Advisors Inc. grew its holdings in Genesis Energy by 2.4% in the third quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock valued at $401,362,000 after purchasing an additional 559,197 shares during the period. Goldman Sachs Group Inc. grew its holdings in Genesis Energy by 13.3% in the first 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 period. Finally, UBS Group AG grew its holdings in Genesis Energy by 31.3% in the fourth quarter. UBS Group AG now owns 1,814,140 shares of the pipeline company’s stock valued at $28,301,000 after purchasing an additional 432,771 shares during the period. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Price Performance

Genesis Energy stock opened at $16.26 on Friday. Genesis Energy, L.P. has a 1 year low of $14.55 and a 1 year high of $18.64. The firm has a 50 day moving average price of $17.14 and a 200 day moving average price of $16.69. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -85.57 and a beta of 0.69. The company has a debt-to-equity ratio of 25.62, a quick ratio of 0.92 and a current ratio of 0.98.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, May 7th. The pipeline company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.22). Genesis Energy had a return on equity of 23.65% and a net margin of 2.11%.The business had revenue of $446.56 million for the quarter, compared to analysts’ expectations of $446.56 million. During the same quarter in the prior year, the firm earned ($4.06) earnings per share. Genesis Energy’s quarterly revenue was up 12.1% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.4%. The ex-dividend date was Thursday, April 30th. Genesis Energy’s payout ratio is currently -378.95%.

Insider Transactions at Genesis Energy

In other Genesis Energy news, SVP Garland G. Gaspard acquired 12,340 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was bought at an average cost of $16.34 per share, for a total transaction of $201,635.60. Following the completion of the purchase, the senior vice president directly owned 36,881 shares in the company, valued at $602,635.54. This represents a 50.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Genesis Energy from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of Genesis Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

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.