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

JPMorgan Chase & Co. grew its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 approximately 3.81% of Genesis Energy worth $47,169,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Genesis Energy in the 4th quarter valued at about $404,000. Advisors Asset Management Inc. grew its position in Genesis Energy by 6.3% during the 4th quarter. Advisors Asset Management Inc. now owns 221,191 shares of the pipeline company's stock worth $2,236,000 after purchasing an additional 13,068 shares during the last quarter. Tejara Capital Ltd purchased a new stake in Genesis Energy during the 4th quarter worth approximately $3,205,000. Sowell Financial Services LLC grew its position in Genesis Energy by 21.8% during the 4th 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. Finally, BBR Partners LLC lifted its stake in Genesis Energy by 20.9% during the 4th quarter. BBR Partners LLC now owns 58,583 shares of the pipeline company's stock valued at $592,000 after acquiring an additional 10,122 shares during the period. Institutional investors own 66.82% of the company's stock.

Genesis Energy Price Performance

Shares of Genesis Energy stock traded down $0.23 during trading hours on Thursday, reaching $13.11. 40,643 shares of the company's stock were exchanged, compared to its average volume of 724,127. Genesis Energy, L.P. has a 1 year low of $9.86 and a 1 year high of $16.44. The company has a market capitalization of $1.61 billion, a P/E ratio of -10.57 and a beta of 1.39. The business has a fifty day moving average of $13.14 and a two-hundred day moving average of $12.10. 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 (NYSE:GEL - Get Free Report) last announced its quarterly earnings data 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). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The firm had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Friday, January 31st. Genesis Energy's dividend payout ratio is currently -53.23%.

Analyst Ratings Changes

GEL has been the subject of several research reports. Royal Bank of Canada lifted their price objective on shares of 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 boosted their target price for the company from $15.00 to $18.00 in a research note on Monday, March 17th.

About Genesis Energy

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.