Citigroup Inc. Decreases Stake in Genesis Energy, L.P. (NYSE:GEL)

Citigroup Inc. lowered its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 23.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 492,566 shares of the pipeline company’s stock after selling 150,150 shares during the quarter. Citigroup Inc.’s holdings in Genesis Energy were worth $5,719,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. purchased a new stake in shares of Genesis Energy during the 1st quarter worth about $94,000. Sowell Financial Services LLC lifted its position in Genesis Energy by 6,714.7% during the 1st quarter. Sowell Financial Services LLC now owns 10,222 shares of the pipeline company’s stock worth $96,000 after acquiring an additional 10,072 shares in the last quarter. Fisher Asset Management LLC acquired a new position in Genesis Energy during the 2nd quarter worth approximately $132,000. Clear Street Markets LLC acquired a new position in Genesis Energy during the 2nd quarter worth approximately $207,000. Finally, Keybank National Association OH lifted its position in Genesis Energy by 43.9% during the 1st quarter. Keybank National Association OH now owns 18,752 shares of the pipeline company’s stock worth $175,000 after acquiring an additional 5,725 shares in the last quarter. Institutional investors and hedge funds own 66.93% of the company’s stock.

GEL has been the topic of several recent research reports. Zacks Investment Research lowered Genesis Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 23rd. Barclays reduced their price target on Genesis Energy from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, August 6th.

Shares of GEL opened at $8.73 on Friday. The business’s 50 day moving average is $8.70 and its two-hundred day moving average is $9.58. Genesis Energy, L.P. has a 52-week low of $3.78 and a 52-week high of $12.78. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -4.04 and a beta of 2.73. The company has a quick ratio of 1.04, a current ratio of 1.19 and a debt-to-equity ratio of 4.99.

Genesis Energy (NYSE:GEL) last announced its earnings results on Wednesday, August 4th. The pipeline company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.42). Genesis Energy had a negative net margin of 9.93% and a negative return on equity of 20.82%. The business had revenue of $503.86 million during the quarter, compared to analyst estimates of $446.68 million. During the same period in the previous year, the company earned ($2.82) earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. On average, equities analysts expect that Genesis Energy, L.P. will post -0.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.87%. The ex-dividend date of this dividend was Thursday, July 29th. Genesis Energy’s payout ratio is -38.96%.

In other news, Director James E. Davison purchased 25,000 shares of the stock in a transaction dated Friday, August 20th. The stock was acquired at an average cost of $7.74 per share, for a total transaction of $193,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Grant E. Sims purchased 10,000 shares of the stock in a transaction dated Monday, August 9th. The stock was purchased at an average price of $8.38 per share, with a total value of $83,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,002,913 shares in the company, valued at approximately $25,164,410.94. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 64,000 shares of company stock worth $519,160. 0.72% of the stock is currently owned by corporate insiders.

Genesis Energy Profile

Genesis Energy LP engages in the provision of midstream services and produces natural soda ash. It operates through the following segments: Offshore Pipeline Transportation, Sodium Minerals and Sulfur Services, Onshore Facilities and Transportation, and Marine Transportation. The Offshore Pipeline Transportation segment owns interests in crude oil and natural gas pipeline transportation and handling operations through its offshore pipeline transportation segment.

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Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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