CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $2.90 Million Position in Genesis Energy, L.P. $GEL

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 72.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 185,700 shares of the pipeline company’s stock after selling 500,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.15% of Genesis Energy worth $2,897,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Fulcrum Asset Management LLP acquired a new position in shares of Genesis Energy during the 3rd quarter valued at $26,000. CWM LLC increased its stake in Genesis Energy by 126.5% during the 3rd quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock valued at $52,000 after purchasing an additional 1,735 shares in the last quarter. SG Americas Securities LLC increased its stake in Genesis Energy by 22.4% during the 3rd quarter. SG Americas Securities LLC now owns 9,546 shares of the pipeline company’s stock valued at $160,000 after purchasing an additional 1,745 shares in the last quarter. Mather Group LLC. bought a new stake in Genesis Energy during the 3rd quarter valued at $30,000. Finally, Geneos Wealth Management Inc. bought a new stake in Genesis Energy during the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Down 2.2%

GEL stock opened at $16.83 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 19.59. The company’s 50 day moving average is $17.70 and its 200 day moving average is $16.57. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -4.02 and a beta of 0.76. Genesis Energy, L.P. has a 1-year low of $13.21 and a 1-year high of $18.64.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, February 12th. The pipeline company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $440.76 million for the quarter. During the same quarter in the prior year, the firm earned ($0.58) EPS. Genesis Energy’s revenue was up 10.5% on a year-over-year basis.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Thursday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is presently -17.18%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.50.

Genesis Energy Company 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.