Westwood Holdings Group Inc. Decreases Holdings in Genesis Energy, L.P. $GEL

Westwood Holdings Group Inc. trimmed its position in Genesis Energy, L.P. (NYSE:GEL) by 8.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,033,940 shares of the pipeline company’s stock after selling 190,125 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Genesis Energy were worth $35,045,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GEL. Jones Financial Companies Lllp purchased a new stake in shares of Genesis Energy during the 1st quarter valued at $108,000. Cetera Investment Advisers purchased a new stake in Genesis Energy in the first quarter valued at about $193,000. Bank of Montreal Can acquired a new stake in Genesis Energy in the second quarter worth about $251,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Genesis Energy during the second quarter worth about $353,000. Finally, Claro Advisors LLC acquired a new position in shares of Genesis Energy during the second quarter valued at about $439,000. 66.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research note on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Genesis Energy in a report on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Genesis Energy Price Performance

Shares of NYSE:GEL opened at $15.71 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 19.90. Genesis Energy, L.P. has a twelve month low of $9.86 and a twelve month high of $17.77. The company’s 50 day moving average is $15.67 and its 200 day moving average is $16.36. The company has a market cap of $1.92 billion, a PE ratio of -3.27 and a beta of 0.82.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, October 30th. The pipeline company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.18). Genesis Energy had a negative net margin of 26.61% and a negative return on equity of 28.39%. The business had revenue of $414.00 million during the quarter. During the same quarter in the prior year, the business earned ($0.32) earnings per share. Genesis Energy’s revenue was up 4.2% on a year-over-year basis.

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, October 31st. Genesis Energy’s dividend payout ratio (DPR) is currently -13.72%.

Genesis Energy Company Profile

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.