Clearbridge Investments LLC Lowers Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

Clearbridge Investments LLC lowered its position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,026,583 shares of the pipeline company's stock after selling 220,643 shares during the quarter. Clearbridge Investments LLC owned about 2.47% of Genesis Energy worth $30,599,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Millburn Ridgefield Corp purchased a new position in shares of Genesis Energy in the third quarter worth about $59,000. Stifel Financial Corp raised its position in Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company's stock worth $250,000 after buying an additional 1,819 shares during the last quarter. Mutual Advisors LLC raised its position in Genesis Energy by 101.8% during the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock worth $341,000 after buying an additional 16,099 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Genesis Energy by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock valued at $369,000 after acquiring an additional 1,584 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Genesis Energy in the 4th quarter valued at $404,000. Hedge funds and other institutional investors own 66.82% of the company's stock.

Analyst Upgrades and Downgrades

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

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Genesis Energy Stock Performance

GEL stock traded down $1.54 during midday trading on Friday, hitting $13.28. 559,217 shares of the stock traded hands, compared to its average volume of 488,444. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $16.44. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The stock's fifty day simple moving average is $12.90 and its 200-day simple moving average is $12.09. The firm has a market cap of $1.63 billion, a P/E ratio of -10.71 and a beta of 1.39.

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

Genesis Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy's payout ratio is -53.23%.

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.