Genesis Energy, L.P. $GEL Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in Genesis Energy, L.P. (NYSE:GEL) by 32.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,190 shares of the pipeline company’s stock after selling 47,100 shares during the quarter. Cresset Asset Management LLC owned 0.08% of Genesis Energy worth $1,607,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Citigroup Inc. lifted its position in shares of Genesis Energy by 15.4% during the 3rd quarter. Citigroup Inc. now owns 435,892 shares of the pipeline company’s stock valued at $7,284,000 after buying an additional 58,126 shares in the last quarter. ING Groep NV increased its holdings in Genesis Energy by 63.5% in the 3rd quarter. ING Groep NV now owns 2,375,800 shares of the pipeline company’s stock worth $39,700,000 after acquiring an additional 922,600 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Genesis Energy by 5.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 56,014 shares of the pipeline company’s stock worth $936,000 after acquiring an additional 3,052 shares during the period. Alps Advisors Inc. raised its position in Genesis Energy by 2.4% during the third quarter. Alps Advisors Inc. now owns 24,019,255 shares of the pipeline company’s stock worth $401,362,000 after acquiring an additional 559,197 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Genesis Energy by 6.1% during the third quarter. Envestnet Asset Management Inc. now owns 106,838 shares of the pipeline company’s stock valued at $1,785,000 after purchasing an additional 6,186 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GEL shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of Genesis Energy in a research report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Genesis Energy in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Genesis Energy Stock Down 2.1%

Shares of GEL opened at $18.11 on Monday. The stock has a 50 day moving average price of $17.00 and a 200 day moving average price of $16.36. Genesis Energy, L.P. has a one year low of $11.87 and a one year high of $18.64. The company has a debt-to-equity ratio of 19.59, a quick ratio of 0.90 and a current ratio of 0.98. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -4.32 and a beta of 0.80.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, February 12th. The pipeline company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.24). Genesis Energy had a negative net margin of 27.01% and a negative return on equity of 10.04%. The firm had revenue of $440.76 million during the quarter. During the same quarter in the prior year, the firm earned ($0.58) EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year.

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.18 dividend. This is an increase from Genesis Energy’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, January 30th. Genesis Energy’s payout ratio is -17.18%.

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.