Wells Fargo & Company MN Lowers Position in Genesis Energy, L.P. (NYSE:GEL)

Wells Fargo & Company MN reduced its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 55.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 348,888 shares of the pipeline company's stock after selling 440,397 shares during the period. Wells Fargo & Company MN owned 0.28% of Genesis Energy worth $3,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEL. Rangeley Capital LLC bought a new position in shares of Genesis Energy during the fourth quarter worth about $2,133,000. Summit Financial LLC acquired a new stake in Genesis Energy during the 4th quarter valued at approximately $2,128,000. CIBC Private Wealth Group LLC raised its holdings in Genesis Energy by 5,667.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 190,342 shares of the pipeline company's stock worth $1,972,000 after purchasing an additional 187,042 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Genesis Energy by 9.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock worth $47,169,000 after purchasing an additional 418,555 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Genesis Energy in the 4th quarter valued at $404,000. 66.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. 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 report on Monday, March 17th. Royal Bank of Canada upped their target price on Genesis Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Monday, March 17th.

Genesis Energy Stock Down 1.8 %

Shares of NYSE GEL traded down $0.26 during trading on Friday, hitting $14.09. 238,088 shares of the company traded hands, compared to its average volume of 489,696. 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 business's fifty day moving average is $13.77 and its 200 day moving average is $12.15. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -11.36 and a beta of 1.39. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $16.44.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its quarterly 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 return on equity of 7.71% and a negative net margin of 2.16%. The firm had revenue of $725.55 million for the quarter.

Genesis Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.68%. The ex-dividend date is Wednesday, April 30th. Genesis Energy's payout ratio is currently -53.23%.

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.