Eagle Global Advisors LLC lowered its stake in Genesis Energy, L.P. (NYSE:GEL) by 23.2% in the fourth quarter, HoldingsChannel reports. The firm owned 696,218 shares of the pipeline company’s stock after selling 210,080 shares during the quarter. Eagle Global Advisors LLC’s holdings in Genesis Energy were worth $15,560,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in Genesis Energy by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,897 shares of the pipeline company’s stock worth $124,000 after acquiring an additional 271 shares during the period. Alliancebernstein L.P. grew its holdings in Genesis Energy by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 25,992 shares of the pipeline company’s stock worth $825,000 after acquiring an additional 1,455 shares during the period. Bank of New York Mellon Corp grew its holdings in Genesis Energy by 25.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,363 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 1,720 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Genesis Energy by 342.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,351 shares of the pipeline company’s stock worth $115,000 after acquiring an additional 3,367 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Genesis Energy by 2.2% during the 3rd quarter. California Public Employees Retirement System now owns 170,960 shares of the pipeline company’s stock worth $4,505,000 after acquiring an additional 3,760 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.
In other news, VP Richard R. Alexander purchased 5,500 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was bought at an average price of $22.66 per share, with a total value of $124,630.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth M. Jastrow II purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was purchased at an average cost of $22.32 per share, with a total value of $334,800.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at $1,116,000. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.
Genesis Energy, L.P. (GEL) opened at $20.61 on Tuesday. Genesis Energy, L.P. has a fifty-two week low of $19.25 and a fifty-two week high of $34.37. The stock has a market cap of $2,400.10, a price-to-earnings ratio of 40.41 and a beta of 1.07. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.62 and a quick ratio of 1.35.
Genesis Energy (NYSE:GEL) last announced its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Genesis Energy had a net margin of 4.07% and a return on equity of 7.04%. The firm had revenue of $720.10 million during the quarter, compared to analyst estimates of $644.89 million. During the same period last year, the firm earned $0.19 EPS. Genesis Energy’s quarterly revenue was up 68.2% on a year-over-year basis. sell-side analysts expect that Genesis Energy, L.P. will post 1.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were issued a $0.51 dividend. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, January 30th. This represents a $2.04 annualized dividend and a dividend yield of 9.90%. Genesis Energy’s payout ratio is 400.01%.
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Genesis Energy Profile
Genesis Energy L.P. is a limited partnership focused on the midstream segment of the oil and gas industry. The Company operates through four segments: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. The Offshore Pipeline Transportation segment is engaged in the offshore transportation of crude oil and natural gas in the Gulf of Mexico.
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