CIBC Private Wealth Group LLC Has $1.97 Million Stake in Genesis Energy, L.P. (NYSE:GEL)

CIBC Private Wealth Group LLC increased its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 5,667.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 190,342 shares of the pipeline company's stock after purchasing an additional 187,042 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.16% of Genesis Energy worth $1,972,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Genesis Energy by 9.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock valued at $47,169,000 after acquiring an additional 418,555 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Genesis Energy during the fourth quarter valued at $404,000. Advisors Asset Management Inc. boosted its position in Genesis Energy by 6.3% in the fourth quarter. Advisors Asset Management Inc. now owns 221,191 shares of the pipeline company's stock valued at $2,236,000 after buying an additional 13,068 shares in the last quarter. Tejara Capital Ltd acquired a new position in shares of Genesis Energy in the 4th quarter worth approximately $3,205,000. Finally, Sowell Financial Services LLC grew its holdings in shares of Genesis Energy by 21.8% during the fourth quarter. Sowell Financial Services LLC now owns 92,401 shares of the pipeline company's stock worth $934,000 after purchasing an additional 16,525 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Stock Down 4.0 %

NYSE GEL traded down $0.54 on Monday, reaching $12.75. The company had a trading volume of 892,992 shares, compared to its average volume of 490,056. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -10.28 and a beta of 1.39. The company's fifty day moving average is $12.95 and its 200-day moving average is $12.09. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $16.44.

Genesis Energy (NYSE:GEL - Get Free Report) last released its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The business had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a yield of 5.18%. Genesis Energy's payout ratio is -53.23%.

Analyst Ratings Changes

GEL has been the subject of several research reports. Royal Bank of Canada lifted their target price on Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a research note on Monday, March 17th. Wells Fargo & Company upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $15.00 to $18.00 in a report on Monday, March 17th.

Genesis Energy 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.