Tortoise Capital Advisors L.L.C. Reduces Stock Position in Genesis Energy, L.P. (NYSE:GEL)

Tortoise Capital Advisors L.L.C. cut its stake in Genesis Energy, L.P. (NYSE:GEL) by 35.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 856,003 shares of the pipeline company’s stock after selling 465,248 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Genesis Energy were worth $12,249,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GEL. UBS Group AG increased its position in shares of Genesis Energy by 479.1% during the fourth quarter. UBS Group AG now owns 1,417,274 shares of the pipeline company’s stock valued at $16,412,000 after buying an additional 1,172,536 shares during the period. Wells Fargo & Company MN boosted its holdings in Genesis Energy by 24.5% in the 4th quarter. Wells Fargo & Company MN now owns 988,690 shares of the pipeline company’s stock valued at $11,449,000 after purchasing an additional 194,258 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Genesis Energy during the 2nd quarter valued at $1,073,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Genesis Energy by 14.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock worth $67,126,000 after purchasing an additional 760,739 shares during the period. Finally, Chickasaw Capital Management LLC raised its position in shares of Genesis Energy by 4.6% in the first quarter. Chickasaw Capital Management LLC now owns 4,028,715 shares of the pipeline company’s stock worth $44,799,000 after buying an additional 175,981 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Down 1.9 %

GEL stock opened at $12.88 on Friday. The company’s 50 day moving average is $13.81 and its 200 day moving average is $12.76. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 37.88 and a beta of 2.10. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74. Genesis Energy, L.P. has a 1-year low of $9.77 and a 1-year high of $15.17.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). The company had revenue of $756.26 million during the quarter. Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. During the same quarter last year, the firm earned $0.22 earnings per share.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.60 annualized dividend and a dividend yield of 4.66%. Genesis Energy’s dividend payout ratio (DPR) is presently 176.47%.

Insider Buying and Selling at Genesis Energy

In other Genesis Energy news, VP Garland G. Gaspard bought 2,261 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the transaction, the vice president now directly owns 19,525 shares in the company, valued at $259,096.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th.

Genesis Energy Company 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.