Raymond James & Associates Sells 12,982 Shares of Genesis Energy, L.P. (NYSE:GEL)

Raymond James & Associates decreased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 33.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 25,892 shares of the pipeline company’s stock after selling 12,982 shares during the period. Raymond James & Associates’ holdings in Genesis Energy were worth $300,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. lifted its holdings in Genesis Energy by 6.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,156 shares of the pipeline company’s stock worth $280,000 after purchasing an additional 1,532 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Genesis Energy by 26.6% during the 3rd quarter. Van ECK Associates Corp now owns 12,491 shares of the pipeline company’s stock worth $129,000 after purchasing an additional 2,622 shares in the last quarter. Argent Advisors Inc. lifted its holdings in Genesis Energy by 14.0% during the 3rd quarter. Argent Advisors Inc. now owns 28,135 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 3,460 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in Genesis Energy by 42.8% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 19,700 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 5,900 shares in the last quarter. Finally, CWM LLC lifted its holdings in Genesis Energy by 847.0% during the 3rd quarter. CWM LLC now owns 7,718 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 6,903 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Genesis Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th.

Genesis Energy Stock Performance

NYSE:GEL opened at $12.36 on Monday. The business’s 50-day moving average price is $11.46 and its two-hundred day moving average price is $11.58. Genesis Energy, L.P. has a twelve month low of $8.05 and a twelve month high of $12.78. The stock has a market cap of $1.51 billion, a P/E ratio of 56.18 and a beta of 2.04. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 4.18.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, February 15th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.31). Genesis Energy had a net margin of 3.71% and a return on equity of 13.34%. The business had revenue of $774.10 million during the quarter. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.85%. Genesis Energy’s dividend payout ratio is 272.73%.

About Genesis Energy

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.