JPMorgan Chase & Co. Sells 1,047,618 Shares of Genesis Energy, L.P. $GEL

JPMorgan Chase & Co. lessened its position in Genesis Energy, L.P. (NYSE:GEL) by 21.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,836,094 shares of the pipeline company’s stock after selling 1,047,618 shares during the period. JPMorgan Chase & Co.’s holdings in Genesis Energy were worth $64,101,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Fulcrum Asset Management LLP acquired a new stake in shares of Genesis Energy during the 3rd quarter worth about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Genesis Energy by 29.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,420,400 shares of the pipeline company’s stock valued at $107,285,000 after purchasing an additional 1,465,339 shares during the last quarter. Hilltop Holdings Inc. boosted its position in Genesis Energy by 53.9% in the third quarter. Hilltop Holdings Inc. now owns 47,850 shares of the pipeline company’s stock valued at $800,000 after buying an additional 16,750 shares in the last quarter. Raymond James Financial Inc. grew its stake in Genesis Energy by 24.9% during the third quarter. Raymond James Financial Inc. now owns 71,156 shares of the pipeline company’s stock worth $1,189,000 after buying an additional 14,193 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Genesis Energy during the third quarter worth about $170,000. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Down 0.3%

Shares of NYSE GEL opened at $17.49 on Friday. Genesis Energy, L.P. has a 12-month low of $11.87 and a 12-month high of $18.64. The firm’s 50-day simple moving average is $17.38 and its 200 day simple moving average is $16.41. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 19.59. The company has a market cap of $2.14 billion, a price-to-earnings ratio of -4.18 and a beta of 0.80.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, February 12th. The pipeline company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.24). Genesis Energy had a negative net margin of 27.01% and a negative return on equity of 10.04%. The company had revenue of $440.76 million during the quarter. During the same period in the previous year, the firm earned ($0.58) EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.1%. This is an increase from Genesis Energy’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, January 30th. Genesis Energy’s payout ratio is currently -17.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GEL shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research note on Thursday, January 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $20.00 price target on shares of Genesis Energy in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Genesis Energy Profile

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.