CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 749,924 Shares of Genesis Energy, L.P. (NYSE:GEL)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its position in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 65.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 390,013 shares of the pipeline company's stock after selling 749,924 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.32% of Genesis Energy worth $3,943,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Millburn Ridgefield Corp acquired a new position in shares of Genesis Energy in the third quarter valued at $59,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Genesis Energy in the 3rd quarter valued at $139,000. Stifel Financial Corp lifted its holdings in shares of 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 acquiring an additional 1,819 shares during the period. Mutual Advisors LLC boosted its position in shares of Genesis Energy by 101.8% during the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock valued at $341,000 after acquiring an additional 16,099 shares in the last quarter. Finally, Axiom Advisory LLC increased its stake in Genesis Energy by 2.8% in the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company's stock valued at $400,000 after acquiring an additional 794 shares during the period. Institutional investors own 66.82% of the company's stock.

Genesis Energy Price Performance

Shares of GEL traded up $0.14 during trading hours on Friday, hitting $10.63. The stock had a trading volume of 385,884 shares, compared to its average volume of 421,118. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -14.36 and a beta of 2.14. 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 company's fifty day moving average is $10.79 and its two-hundred day moving average is $12.36. Genesis Energy, L.P. has a 52 week low of $9.86 and a 52 week high of $15.17.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. The firm had revenue of $714.30 million for the quarter. During the same quarter last year, the company earned $0.29 earnings per share.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a yield of 6.21%. Genesis Energy's dividend payout ratio is -89.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GEL shares. Capital One Financial upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating in a research note on Friday, November 1st. Royal Bank of Canada raised their target price on Genesis Energy from $15.00 to $16.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th.

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.