UBS Group AG trimmed its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 29.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,228,904 shares of the pipeline company’s stock after selling 512,229 shares during the quarter. UBS Group AG’s holdings in Genesis Energy were worth $4,817,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. grew its position in shares of Genesis Energy by 15.6% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 4,416,522 shares of the pipeline company’s stock worth $90,450,000 after buying an additional 597,390 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Genesis Energy by 77.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,756,382 shares of the pipeline company’s stock worth $76,931,000 after buying an additional 1,642,098 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in shares of Genesis Energy by 6.4% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 785,065 shares of the pipeline company’s stock worth $16,078,000 after buying an additional 47,365 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Genesis Energy by 2.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 636,705 shares of the pipeline company’s stock worth $13,040,000 after buying an additional 13,652 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Genesis Energy by 2.1% in the 4th quarter. Bank of America Corp DE now owns 549,825 shares of the pipeline company’s stock worth $11,260,000 after buying an additional 11,514 shares during the last quarter. Hedge funds and other institutional investors own 72.28% of the company’s stock.

GEL has been the topic of a number of recent analyst reports. ValuEngine lowered Genesis Energy from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. UBS Group upgraded Genesis Energy from a “neutral” rating to a “buy” rating in a research report on Monday, March 16th. Wells Fargo & Co lowered their target price on Genesis Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, April 14th. Finally, Zacks Investment Research upgraded Genesis Energy from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.00.

In related news, Director Jack T. Taylor acquired 20,000 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.38 per share, for a total transaction of $207,600.00. Also, Director Conrad P. Albert acquired 10,000 shares of the stock in a transaction on Monday, March 30th. The shares were bought at an average price of $3.00 per share, with a total value of $30,000.00. Following the purchase, the director now directly owns 5,100 shares of the company’s stock, valued at approximately $15,300. The disclosure for this purchase can be found here. Insiders have acquired 186,573 shares of company stock valued at $1,014,191 in the last quarter. 0.72% of the stock is owned by company insiders.

GEL opened at $7.32 on Friday. The stock has a market cap of $876.43 million, a PE ratio of 30.50 and a beta of 2.61. The company has a quick ratio of 1.31, a current ratio of 1.53 and a debt-to-equity ratio of 2.51. The business has a 50 day moving average of $5.38 and a 200-day moving average of $13.60. Genesis Energy, L.P. has a 52 week low of $2.58 and a 52 week high of $23.84.

Genesis Energy (NYSE:GEL) last released its earnings results on Wednesday, May 6th. The pipeline company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. The company had revenue of $539.92 million during the quarter, compared to analysts’ expectations of $640.07 million. Genesis Energy had a return on equity of 7.15% and a net margin of 4.37%. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. Equities analysts anticipate that Genesis Energy, L.P. will post 0.05 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date was Thursday, April 30th. Genesis Energy’s payout ratio is 166.67%.

Genesis Energy Company 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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Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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