JPMorgan Chase & Co. Increases Position in Genesis Energy, L.P. (NYSE:GEL)

JPMorgan Chase & Co. increased its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,665,597 shares of the pipeline company's stock after purchasing an additional 418,555 shares during the quarter. JPMorgan Chase & Co. owned 3.81% of Genesis Energy worth $47,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp lifted its stake in shares of Genesis Energy by 10.8% in 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 raised its holdings in Genesis Energy by 101.8% during the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock worth $341,000 after purchasing an additional 16,099 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Genesis Energy by 4.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock valued at $369,000 after purchasing an additional 1,584 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Genesis Energy in the 4th quarter valued at approximately $404,000. Finally, Captrust Financial Advisors increased its position in Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company's stock worth $424,000 after purchasing an additional 900 shares during the period. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

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Genesis Energy Trading Down 4.0 %

Shares of GEL stock traded down $0.54 during mid-day trading on Monday, hitting $12.75. 892,992 shares of the company's stock were exchanged, compared to its average volume of 490,055. The stock has a 50-day simple moving average of $12.95 and a two-hundred day simple moving average of $12.09. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $16.44. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -10.28 and a beta of 1.39.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.53). The company had revenue of $725.55 million during the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have commented on GEL shares. Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $15.00 to $18.00 in a report on Monday, March 17th. Royal Bank of Canada lifted their price objective on Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research 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.